Dowlais buoyed by new business prospects

You could say that Dowlais Group (DWL) came into being after Melrose Industries (MRO) decided to abandon its status as a “turnaround” specialist. In truth, the group’s latest incarnation can be traced back to 2018, and Melrose’s marquee deal to acquire GKN, one of the UK’s oldest engineering firms. At the time of the deal, a parliamentary committee grilled Melrose’s bosses about the future of the UK engineering industry and national security implications – concerns that have subsequently become all too familiar given private equity raids on the defence sector.