UK engineering group Goodwin eyes sale of defence division

British engineering firm Goodwin, based in Stoke‑on‑Trent, has launched a strategic review that could lead to the sale of a substantial part of its mechanical engineering division. The division, which includes Goodwin Steel Castings, Goodwin International, Noreva, Easat and Pumps, supplies key components to UK and US frigate and submarine programmes, notably the Royal Navy's Dreadnought nuclear‑deterrent submarine project and the Type 26 anti‑submarine frigate programme.

The board said the review aims to maximise shareholder value while ensuring continuity for customers and employees, but added that no transaction is certain. Potential buyers with defence experience have shown interest, and Rothschild & Co is advising the company. Following the announcement, Goodwin's shares rose about 10% on the London Stock Exchange. The company, founded in 1883 and majority‑owned by the Goodwin family, previously suffered the loss of two major contracts and Middle‑East order delays earlier in the year.