GKN Powder Metallurgy has begun construction of a new PM manufacturing facility in China. The ground breaking ceremony took place recently for the new $26 million GKN Sinter Metals plant in Yizheng, which will cover an area of 30,000 m2 when completed in 2013.
The new plant will produce small precision parts for automotive applications in engine, transmission, body and chassis, as well as a range of components for power tools, white appliances and other industrial and consumer applications. Production is expected to start by Q4 2013 and upon completion the plant will have the capacity of 100 million components per year.
The ground breaking ceremony was led by the mayor of Yangzhou City, with speeches from Nigel Stein, Chief Executive of GKN, Peter Mölgg, GKN President European and Asia Pacific Operations, and Cheng Xi, Party Chief of Yizheng City. Senior officials from Yizheng and Yangzhou governments and customer representatives also attended.
“China is a key growth market for GKN and integral to our strategy of increasing our global footprint. We already have a strong presence in the country and are delighted to be expanding our powder metallurgy business. The new plant will ensure we are better positioned to serve our Chinese customers, develop close relationships and further strengthen our customer base,” stated Nigel Stein, Chief Executive GKN plc.
GKN Powder Metallurgy currently operates from two sites in China, both in Danyang City.
GKN wins British Company of the Year in China
It was also announced that GKN has won the British Company of the Year Award 2012 at the British Business Awards in Shanghai. The award celebrates British organisations that have demonstrated a strong commitment to the development of a sustainable business partnership between the UK and China.
GKN has been active in China since 1988 and now operates from 12 locations, employing more than 5,000 people.
On receiving the award, Stefan Magirius, President GKN China, stated “Winning the British Company of the Year Award is recognition of GKN’s long-term commitment to serving our customers in China both directly and through strong cooperation with our partners. It also acknowledges GKN’s success in developing a sustainable business, its continuous efforts to foster Chinese talents and its whole hearted dedication to support UK-China relationships as well as give back to the community. The award will inspire us to further excel as we enter the next phase of our growth plan in China.”
Posted by: Paul Whittaker, Editor ipmd.net, [email protected]