GKN, the automotive and aerospace supplier, is close to finalising a deal to acquire the Airbus manufacturing site at Filton, near Bristol, increasing to more than a third the proportion of group sales to the aerospace sector.

There were concerns that the talks, which have been going on since December, had run into difficulties but Sir Kevin Smith, GKN chief executive, said on Tuesday he expected an agreement in the next two weeks. GKN had also secured important work on the rear spar or spine of the wing of the new Airbus A350 long-range, medium-capacity jet, he said.