Market Snapshot
  • U.S.
  • Europe
  • Asia
Ticker Volume Price Price Delta
DJIA 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 2.54 0.14%
NASDAQ 4,095.52 9.29 0.23%
Ticker Volume Price Price Delta
STOXX 50 3,155.81 16.55 0.53%
FTSE 100 6,625.25 41.08 0.62%
DAX 9,409.71 91.89 0.99%
Ticker Volume Price Price Delta
NIKKEI 14,516.27 98.74 0.68%
TOPIX 1,173.37 6.78 0.58%
HANG SENG 22,760.24 64.23 0.28%

GKN Driveline Announces Further Expansion In China



              GKN Driveline Announces Further Expansion In China

PR Newswire

CHONGQING, China, Sept. 16, 2013

CHONGQING, China, Sept. 16, 2013 /PRNewswire/ -- GKN Driveline continues its
expansion in China with ground-breaking for the expansion of its production
facilities in Chongqing.

(Logo: http://photos.prnewswire.com/prnh/20110809/DE49568LOGO )

GKN Chongqing Driveshaft (GDC) is investing $43.9 million to expand the plant
which will cover an area of nearly 12,000 square meters when construction is
completed in 2014. The expansion will allow localization of CVJ system
production for OEMs in the Chongqing area. Production is expected to start in
July 2014 and when completed, the plant will have capacity of more than one
million vehicle sets per year.

"Chongqing is the automotive manufacturing center for Southwest China, with
fast growing customer demand and market forecasts of two million cars by
2015," said Andy Reynolds Smith, CEO GKN Automotive.  "Our rapidly increasing
China footprint allows us to better serve our customers such as ChangAn-Ford,
creating more efficiency in supply chains with localized supply and continued
high levels of service. This builds on our existing highly successful
operational base of eight plants."

GDC, established in August 2006, is a joint venture shared by GKN, Shanghai
GKN Driveshaft Co., Ltd. (SDS) and China ChangAn Automobile Group. Its main
products are CVJ shafts.  Customers include ChangAn-Ford, ChangAn-Mazda,
ChangAn-Suzuki, ChangAn, JAC, Great Wall, BAIC Motor and SGMW.

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.

www.gkndriveline.com

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.

About the GKN Group

GKN plc is a global engineering business serving mainly the automotive,
aerospace and land systems markets. It has operations in more than 32
countries, around 48,000 employees in subsidiaries and joint ventures and had
sales of £6.9 billion in the year to 31 December 2012. GKN plc is listed on
the London Stock Exchange (LSE: GKN).

www.gkn.com

SOURCE GKN Driveline

Website: http://www.gkndriveline.com
Contact: Company Contact - UK: Hannah Chatterley, GKN Driveline, Tel: + 44
1527 533660, hannah.chatterley@gkndriveline.com; Company Contact - China: Lily
Xie, GKN China, Tel: +86 21 58202696, Lily.Xie@gknchina.com; Media Contact -
China: Fanny Feng, EBA Communications, Tel: + 8610 6522 8081 (ext. 206),
fanny.feng@ebacomms.com; Media Contact - Americas: Larry Weis or Craig Miner,
AutoCom Associates, Tel: + 1 248 647 8621, lweis@usautocom.com or
cminer@usautocom.com; Media Contact - Europe: Simon Pearson, Tel: + 44 207 861
3158, Mobile: + 44 7836 744 192, simon@s-pearson.com
Sponsored Links
Advertisement
Advertisements
Sponsored Links
Advertisement