Hunting Engineering is to be bought-out by its management for £42.3 million ($59.2 million) and renamed Insys. Oil and gas equipment producer Hunting has been seeking to divest its non-core activities for sometime and had previously disposed of its other aviation and defence businesses. The designer and developer of the BL755 cluster bomb and JP233 airfield attack weapon, its turnover last year was £176 million.
Source: Flight International