Brierley Hill-based aerospace group Hampson Industries said it is progressing with its decision to sell off assets to bring down its debt levels.
The firm said in an interim management statement that it remained cautious about expectations for the next financial year as it presses ahead with restructuring inititives.
It said net debt at the end of January was £99 million, an increase of approximately £10 million since the half year.
It added: “The reduction of net borrowings remains a key strategic priority for the Group and, in this regard, the Board has previously indicated that selective asset disposals may be pursued.
“Whilst it is premature to assess whether acceptable value can be realised from such an exercise, the board has made progress in this regard and anticipates being in a position to make a final decision in the relatively near term.”
It reported that market conditions in aerospace tooling have remained largely unchanged, but added that it believed large tooling opportunities continued to exist, including tje B787-8, B787-9, Airbus A350, CH-53 and Lockheed Martin Lightning II programmes.
