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Several Spanish media sources reported that GKN Driveline Vigo, S.A., a subsidiary of Dowlais’ GKN Automotive, has notified workers’ unions of a planned workforce reduction (ERE) that could affect around 75 employees, representing over 10% of its total workforce of 725.
The proposed layoffs are linked to lower demand
ZYNP Corp. (ZYNP) plans to sign a stake transfer agreement with GKN Industries Limited to acquire a 59% stake in GKN Zhongyuan Cylinder Liner Co., Ltd. (GKN Zhongyuan), a joint venture between them, for CNY 143,412,000. Upon completion of the acquisition, GKN Zhongyuan will become a ZYNP wholly-owned subsidiary and b
On January 16, U.S.-based American Axle & Manufacturing Holdings Inc and UK-based Dowlais Group PLC announced that the China State Administration for Market Regulation has issued a formal notice approving the Combination. As a result, AAM and Dowlais can confirm that all conditions relating to the receipt of regulato
On October 2, the European Commission approved, under the EU Merger Regulation, the acquisition of sole control of Dowlais Group plc (Dowlais) of the UK by American Axle & Manufacturing Holdings, Inc (AAM) of the US. The transaction relates primarily to the markets for the manufacturing and supply of automotive syste
GKN Automotive, a division of Dowlais Group PLC, announced that its SX Countertrack CV Joint was selected for the Lucid Air due to its outstanding torque transfer efficiency. The vehicle also incorporates GKN Automotive’s Monobloc Tubular Interconnecting Shafts (MTS), which deliver additional weight savings and effic
On January 29, Detroit-based American Axle and Manufacturing (AAM) announced it will buy GKN Automotive owner Dowlais in a cash-and-stock deal, valuing the UK firm at about GBP 1.16 billion (USD 1.44 billion).
Described as a combination of companies, it is expected that AAM shareholders will own approximately 51% of
GKN Hoeganaes, a division of Dowlais Group PLC’s GKN Powder Metallurgy, announced a strategic collaboration with First Phosphate to establish a North American supply chain for lithium iron phosphate (LFP) batteries used in EV and energy storage systems.
This partnership builds on GKN Hoeganaes’ integration of First P
GKN Automotive, a division of Dowlais Group PLC, has signed a Virtual Power Purchase Agreement (VPPA) with Recurrent Energy that will cover 65% of its European electricity load and 30% of its global load.
The VPPA agreement will establish The Rey I project, a new large-scale solar farm in Spain. It will facilitate th
The European Commission has concluded that Hungary’s plan to support the construction of GKN Automotive Hungary Kft’s new automotive components plant in Észak Magyarország is not in line with EU State aid rules.
Hungary planned to grant EUR 43.76 million (around HUF 15.9 billion) to GKN Automotive for this constructi
GKN Automotive, a division of Dowlais Group PLC, announced the launch of a new plug-and-play eDrive concept, eCrate, which is designed to meet the growing demand of niche EV makers and EV conversion companies. This cost-effective modular eDrive concept with optimal efficiency and performance comes with a choice of th
Schaeffler AG and GKN Powder Metallurgy announced a memorandum of understanding on their joint commitment to advance the development of the permanent magnet industry in Europe and North America. GKN Powder Metallurgy will supply Schaeffler locally with permanent magnets with the aim to ensure a stable, local supply w
The Hungarian Investment Promotion Agency announced that GKN Automotive, a division of Dowlais Group PLC, has invested EUR 142.7 million to build a new site in Felsozsolca, intending to supply the regional hubs of Tier 1 companies and serve BMW, Mercedes-Benz, Suzuki, and Volkswagen plants in the region. This new sit
Dowlais Group PLC (Dowlais) announced the completion of the demerger of the GKN Automotive, GKN Powder Metallurgy, and GKN Hydrogen businesses from Melrose Industries PLC (Melrose) into Dowlais. On April 20, 2023, the ordinary shares of Dowlais have been admitted to the premium listing segment of the Official List of
GKN Automotive Limited (GKN Automotive) announced that it has joined a new EUR 4 million European R&D project to develop more sustainable, efficient, and power-dense permanent magnet eMotors for EVs. The innovations will allow magnets in the eMotor to be smaller in size, contain less rare earth material, and be eligi
Melrose announced its intention to separate the GKN Automotive and GKN Powder Metallurgy businesses from the Melrose Group (the ‘Demerger’) by way of a demerger of shares in a new holding company (‘DemergerCo’) to Melrose shareholders. This will result in two independent and separately listed companies, DemergerCo an
GKN Automotive Limited (GKN Automotive) announced that it has developed a real-time test rig for EV driveline components. The new rig, installed at GKN Automotive’s Offenbach facility, can handle the extreme dynamics and higher torque of electrified powertrains. The real-time capable unit can test the load data provi
GKN Driveline, a Zrece-based car industry supplier from GKN Automotive Limited, announced that the company, which has 360 employees, has planned to generate around EUR 120 million in sales revenue in 2022. It has also planned to invest around EUR 3 million, primarily in machines, production automation, and quality im
GKN Powder Metallurgy (GKN PM) announced its roadmap to expand its share in the EV market by entering the production of permanent magnets, a vital component of EV motors, for the European and North American markets. GKN PM plans to establish a capacity to produce up to 4,000 tons of permanent magnets per year for the
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