November 19, 2012 / 2:00 PM / 5 years ago

Aero engineer Hampson to appoint administrators

1 Min Read

Nov 19 (Reuters) - British aero engineer Hampson Industries Plc, which has been struggling with a heavy debt load, on Monday said it planned to appoint administrators, less than four months after it terminated a sale process.

The company, which supplies tools and components to planemakers Airbus and Boeing Co, put itself on the block in February but warned that the sale process was likely to result in little or no value to the company's shareholders.

Hampson terminated the sale process and suspended trading in its shares in July after talks with several parties failed to yield a satisfactory offer.

At the time, the company said it was reviewing the options it had left, including hiving off its U.S. and non-U.S. operations, with the backing of its lenders.

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