AB Volvo sells Aero unit to GKN

Swedish truck-maker AB Volvo says it will sell its aeronautic unit Aero to British engineering group GKN for 6.9 billion kronor (€792.2m) in a move to focus more on its core heavy vehicle operations.

The company said today the deal is scheduled to be completed in the third quarter and is expected to generate a capital gain of around 400m kronor (€45.9m).