The UK industrial giant GKN hailed 2011 a year of good growth and predicted further progress in 2012.
Reporting increased sales and profits, chief executive Nigel Stein said each of the company’s four achieved record or near record profits. GKN’s Driveline division sells to manufacturers of passenger cars and light vehicles; Powder Metallurgy also sells mostly to the automotive market; Aerospace, specialises in military and civil aircraft, aircraft engines and equipment; and Land Systems sells to producers of agricultural, construction, mining and industrial equipment and to the automotive and commercial vehicle sectors.
“Each division has leading technology and market positions and out-performed their respective markets, with a strong pipeline of new business. GKN Driveline and GKN Land Systems were further strengthened with the two highly complementary acquisitions of Getrag Driveline Products and Stromag,” Stein said.
Group sales for 2011 were13% up at £6.1 billion while pre-tax profit rose to £351 million.
This material is protected by copyright Ken Hurst 2011.
Like this:
Like Loading...
About Ken Hurst
Ken Hurst began his career as a journalist in London over 30 years ago, working on a range of publications before moving on to weekly newspaper production in the newly-independent Zambia of the 1970s.
He returned to the UK where his work included spells on newspapers and magazines, before moving to head up Norwich Union’s corporate affairs division.
In the 1990s he moved on to freelance, co-own and publish the B2B audio magazine Sound and front the BBC radio Yesterday’s Papers programme. There followed six years as Business Editor at Britain’s biggest selling regional daily newspaper, The Eastern Daily Press, where he led an award-winning team and for whom he still writes a weekly socio/political comment column. Subsequently, he was Group Editorial Director at CBM, responsible for its UK and US magazine output – including The Manufacturer magazine – research-driven industry reports and live events content. Currently he is Contributing Editor at Works Management magazine publisher Findlay Media and Chairman of the consumer publishing house TNT Multimedia Ltd.
He is a Fellow of the Royal Society of Arts and of the British Association of Communicators in Business.
The UK industrial giant GKN hailed 2011 a year of good growth and predicted further progress in 2012.
