BBA sells off last engineering division to HSBC for £389m

摘要

Aviation services and materials group BBA has finally forsaken its engineering roots with the sale of its automotive friction materials division to HSBC Private Equity for £389m. The sale will enable BBA to concentrate on its two remaining divisions, aviation services and non-woven materials and could allow the friction business to become a global leader. Mark Dunfoy, a director of HSBC Private Equity, said the division — which makes brake pads — was European market leader, with good aftermarket sales providing inherent stability.