GKN to acquire Turkish Powder Metallurgy part manufacturer Tozmetal
April 17, 2017
PM parts produced by Tozmetal, Turkey (Courtesy GKN)
GKN plc has announced it is to acquire Tozmetal Ticaret Ve Sanayi AS, located in the Istanbul Ataturk Free Trade Zone in Turkey. Tozmetal is a Powder Metallurgy parts manufacturer which focuses much of its output on hydraulic pump components for the European automotive market and reported sales of €24 million in 2016.
Speaking on the acquisition, Peter Oberparleiter, Chief Executive of GKN Powder Metallurgy, stated, “We are very excited to welcome Tozmetal into GKN Powder Metallurgy. Tozmetal is a well-run business that will complement our broad presence in the powder metals market.”
Tozmetal operates out of its 6,000 m2 Istanbul facility. With its product range of over 1,500 parts, GKN’s acquisition of the company is expected to dramatically increase its presence in the European auto market.
