(Bloomberg) -- Senior Plc is in final negotiations with potential buyers of its aerostructures business as the UK engineering company seeks to streamline its operations.

The aerostructures unit, which supplies components for aircraft, is expected to generate between £9 million ($11.3 million) and £11 million in operating profit this year after a loss in 2024, Senior said on Monday.

“We’ve had a lot of interest both from strategics and private equity houses,” Chief Executive Officer David Squires said in an interview, declining to give a date or value of the sale. “There’s a good market there.”

Senior could seek at least £450 million, Bloomberg News reported in 2019 when it revealed the divestment. The sale is dependent a few factors with potential buyers, but “we’re getting close,” Squires said.

Aerospace manufacturers struggled with sales as soon as the Covid pandemic hit in 2020, impacting global supply chains. Their troubles were then exacerbated when Boeing Co. and Airbus SE experienced production issues last year. As a result, Senior was forced to cut jobs, delay some capital expenditure and limit discretionary spending. 

Spirit AeroSystems Holdings Inc., a rival supplier, is in the process of being bought by Boeing for $4.7 billion. Airbus will also acquire parts of Spirit that make components for its jets and pay a nominal price of $1 for the assets.

Senior fell as much as 5% on Monday in London. Rising costs in the UK could hurt consensus expectations for this year, Jefferies analyst Andy Douglas said in response to the company’s full-year results.

The company predicted a more stable business for this year as both planemakers start to ramp up output, though some hiccups in the supply chain may linger. Employees on temporary furlough are all back at work at the company again to support demand levels, Squires said.

Senior is keeping a close eye on the potential impact from tariffs on global trade although Squires said the direct impact would be “limited.” Global demand and trade would be more of a concern, he said.

The board approved a final dividend of 1.65 pence a share, bringing the total dividends to 2.40 pence.

©2025 Bloomberg L.P.