GKN, the UK engineering group, is poised to secure about £60m in financial support from the British government as part of a deal to acquire a large part of the Airbus manufacturing site at Filton, near Bristol.

John Hutton, business secretary, who will launch the government’s new manufacturing strategy on Monday, is expected to visit Filton later in the week and could announce news of the commitment at the same time, according to people close to talks. They stressed, however, that some issues remained and any announcement could still slip.