A Manx factory has been bought by a Pennsylvania company as part of a £41.5 million deal.
Aerospace firm Triumph Group is buying GE Aviation’s hydraulic actuation business, which has factories in the US and England as well as the Isle of Man.
The factory on School Lane in Onchan produces hydraulic components for aircraft landing gear and was bought by GE Aviation in 2007.
The acquisition is still subject to regulatory approvals and is expected to be finalised over the summer.
Rising UK mortgage rates unlikely to be reflected in the Isle of Man says local advisor
UK mortgage rates have crept up by around 0.2%
Ramsey's Barclays branch reducing opening hours
Bank to only open twice a week
Solutions to hospitality struggles have to be 'sustainable, fair, and affordable'
Enterprise minister reacts to concerns raised at LVA meeting
Hospitality sector begs for government help
Concerns heard at Monday's LVA meeting
Decrease in unemployment for March
Put figures almost equal with this time last year
Hospitality sector to voice concerns to ministers
Enterprise and Treasury ministers hosting forum this afternoon
