GKN Driveline Expansion Continues In China
WUHAN, China, July 18, 2013 /PRNewswire/ -- GKN Driveline continues to expand rapidly in China with the expansion of a key manufacturing facility by Shanghai GKN Driveshaft Co., Ltd. (SDS).
With an investment of approximately £15 million, a new 11,000-square-meter precision forge facility in Wuhan will produce high-accuracy components for driveline systems with an annual capacity of 11 million precision parts. The expansion, driven by customer demand, will mean more capacity and capability to support increasing demand from vehicle manufacturers.
"Vehicle manufacturers are continuing to expand across China, the world's largest vehicle market and the Wuhan plant is located close to customers in the center of China," said Andy Reynolds Smith, CEO GKN Automotive. "It will ensure we are ideally positioned to support the growth in the Chinese market with products produced locally, coupled with a high level of customer service, to further strengthen our customer support."
China is a key growth market for GKN Driveline with vehicle production in the country expected to reach 22 million units by 2014 and 30 million units by 2020.
About GKN Driveline
GKN Driveline is the world's leading supplier of automotive driveline components and systems. As a global company serving the world's leading vehicle manufacturers, GKN Driveline develops, builds and supplies an extensive range of automotive driveline components – for use in the smallest ultra low-cost car to the most sophisticated premium vehicle demanding the most complex driving dynamics.
GKN Driveline is a leading global producer of CVJ Systems, AWD Systems, Trans Axle Solutions and eDrive Systems and operates in 22 countries at 56 locations employing 22,000 people.
Shanghai GKN Driveshaft Co., Ltd. (SDS) was established in 1988 and is one of the earliest foreign invested Joint Venture companies established for automotive components in China. The major shareholders of SDS are GKN Driveline International GmbH and HUAYU Automotive Systems Co., Ltd. With a land area of 320,000 square meters and more than 3200 employees, SDS currently operates three plants in Shanghai, a plant in Wu Han, a plant in Chang Chun and a Joint Venture in Chong Qing, serving all major domestic and foreign invested vehicle manufacturers.
GKN in China - In 1988, GKN was the first western company to invest in the automotive component industry in China. Through more than 25 years investment and development of our capabilities, GKN now operates from 14 locations in China with one under construction, employing more than 5,500 people and also serves a number of high growth markets including agricultural and construction.
GKN plc is a global engineering group – our technologies and products are at the heart of vehicles and aircraft produced by the world's leading manufacturers.
GKN operates four divisions: GKN Driveline, GKN Powder Metallurgy, GKN Aerospace and GKN Land Systems. Approximately 48,000 people work in GKN companies and joint ventures in more than 35 countries. We harness our considerable technology and manufacturing resources to supply the highest quality systems, structures, components and services.
SOURCE GKN Driveline