McKechnie looks to East and US

Specialist engineering and plastics group McKechnie is aiming to spend up to £100m on bolt-on acquisitions in the US and the Far East, to add to its established aerospace fasteners and engineered plastics business. Earnings were held back by a £4m exceptional cost incurred through an abandoned US contract, announced earlier this year, when a […]

Specialist engineering and plastics group McKechnie is aiming to spend up to £100m on bolt-on acquisitions in the US and the Far East, to add to its established aerospace fasteners and engineered plastics business.

Earnings were held back by a £4m exceptional cost incurred through an abandoned US contract, announced earlier this year, when a plastic moulding painting process failed.

Pre-tax profits for the year to 31 July were up 10.5% to £55.6m before the exceptional, but the £4m cost knocked this back to a 2.6% rise to £50.3m.