British engineering company Goodwin is considering selling part of its defence business, specifically a substantial part of its mechanical engineering division. According to Goodwin's latest annual report, the division has contributed to the company's profits due to increased defence spending in the UK and US. The company, which supplies components for major defence programmes including Britain's Dreadnought submarine programme, has seen its shares rise by about 10% following news of a potential sale. A strategic review is underway with Rothschild & Co advising Goodwin on the process, but there is currently no certainty that a sale will take place.
Written by the local model on 2026-08-21,
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Story summary
British engineering company Goodwin, based in Stoke-on-Trent, is considering selling off parts of its business, specifically a "substantial part" of its mechanical engineering division, which includes companies like Goodwin Steel Castings (GSC) and Goodwin International (GI). These businesses supply components to major defence and nuclear programmes. The company's board has started a strategic review to explore options that would "maximise value for shareholders" while ensuring continuity for all stakeholders, including customers. Rothschild & Co is advising the board on this review, which means there are ongoing discussions but no certainty of a sale taking place.
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- Published
British engineering company Goodwin has said it is considering selling off parts of its business, which supplies components to major defence and nuclear programmes.
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which → publish → programmes
The Stoke-on-Trent-based group said it was exploring a possible sale of a "substantial part" of its mechanical engineering division, which includes Goodwin Steel Castings (GSC), Goodwin International (GI), Noreva, Easat and Pumps.
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which → base → Castings
In a statement on Friday, the firm's board confirmed it had commenced a strategic review to "consider a range of potential options to maximise value for shareholders".
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it → confirm → shareholders
Goodwin said discussions were ongoing and that there was no certainty of a sale taking place.
"
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sale → say → place
The board of Goodwin confirms that it has commenced a strategic review to consider a range of potential options to maximise value for shareholders whilst ensuring continuity for all stakeholders, including customers, and the long-term prosperity of its businesses," the company said.
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company → confirm → businesses
"Discussions are ongoing and there can be no certainty that a transaction will be entered into.
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transaction → enter → ?
Rothschild & Co is advising the board of Goodwin on the strategic review.
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Rothschild → advise → review
This includes Britain's Dreadnought programme, which is building the Royal Navy's next-generation nuclear deterrent submarines, and the Type 26 frigate programme, which is developing a fleet of advanced anti-submarine warships.
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which → include → warships
According to its latest annual report, Goodwin Steel Castings and Goodwin International have delivered a boost to the company's profits, having benefited from economies increasing their defence spending.
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economies → accord → spending
A report in the Financial Times said several potential buyers that have records in defence had expressed interest in Goodwin in recent weeks.
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that → say → weeks
The company, which was founded in 1883, is majority owned and managed by the Goodwin family, while it has shares listed on the London Stock Exchange.
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it → found → Exchange
Russ Mould, investment director for AJ Bell, said: "The company is a major supplier to UK and US submarine programmes and has also benefited from bumper defence spending across other parts of its business.
"
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company → say → business
The company took a big hit in March when it lost two significant contracts and faced order delays in the Middle East."
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it → take → East
He added: "Yet the interest in Goodwin's defence arm is a reminder that the UK has a collection of engineering businesses which are global leaders in their respective niches.
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which → add → niches
"What any sale would mean for the future of Goodwin as a standalone business remains an open question but it is likely to still derive a significant chunk of its revenue from military spending regardless."
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it → mean → spending
