Global
GKN plc – Launch of GKN Land Systems Division
GKN plc, the global engineering business that serves the automotive, industrial, off-highway and aerospace markets, today announces the creation of a new division with a strategy for growth and market expansion and the goal of creating a fourth global leader.
The new division, GKN Land Systems, has current annualised sales of approximately £700 million. GKN aims to increase the size of this business over the next five years to sales of about £1.5 billion. Land Systems division brings together the existing operations of GKN OffHighway, GKN AutoStructures and GKN Industrial & Distribution Services.
Sir Kevin Smith, GKN’s Chief Executive, said: “This is a milestone in the growth of GKN. We have a proven track record in developing market leading businesses. We aim to do this again with GKN Land Systems and develop it into another global leader alongside Driveline, Powder Metallurgy and Aerospace, operating at the forefront of their industries”.
Andy Reynolds Smith, Chief Executive GKN Land Systems, said: “By building on GKN Land Systems’ existing strengths in the off-highway market and by applying the leading-edge technologies we have developed across the Group, we intend to capitalise on the opportunities being presented in both our existing markets and new, high growth sectors”.
GKN Land Systems will focus on two key technology areas: Power Management and High Performance Structures, supported by an expanded Aftermarket and Service arm. GKN already has a number of leadership positions based on these capabilities, notably in components and systems for agricultural, construction and mining vehicles.
Next generation technology developed by GKN is also opening up growth opportunities in defence, high speed rail and potentially in wind power. Andy Reynolds Smith said: “Customers in all these industries are increasingly demanding more sophisticated solutions from global suppliers. GKN has the technological capability and the worldwide network to meet those requirements. The businesses that form Land Systems will provide a powerful platform for growth and value creation across markets.”