GKN releases 2006 PM sales figures and announces new executive appointments
August 1, 2007
GKN plc Powder Metallurgy Division has announced sales of approximately $1.164 billion in 2006. The company is a major supplier of MIM components as well as conventional press and sinter PM parts. Positive sales figures for Europe and Asia were overshadowed by weak North American sales resulting in an overall drop in annual sales.
GKN estimates that it has around 16% global market share in the sintered product business with sales mainly to major automotive and industrial original equipment manufacturers and first tier suppliers. Component production takes place in the Americas, Europe, South Africa and Asia Pacific. The company is however looking at growth through the development of operations in India and China.
GKN also announced the appointment of Marcus Bryson and Andrew Reynolds Smith as Executive Directors with responsibility for the Group’s aerospace and powder metallurgy, offhighway and industrial services businesses respectively. They will report to Sir Kevin Smith, Chief Executive. Marcus Bryson has over 22 years service with Westland Group plc and GKN in various aerospace related roles and is currently President and Chief Executive, GKN Aerospace. Andrew Reynolds Smith joined GKN in 2002 and has held positions in the Group’s Driveline and Sinter Metals businesses and is currently President and Chief Executive, GKN Sinter Metals.
GKN Chairman, Roy Brown, said ‘Both Marcus and Andy are responsible for businesses which are world leaders in their respective market sectors. Marcus has overseen significant growth in our aerospace businesses and Andy has played a key role in the transformation and turnaround of our Sinter Metals business. I am delighted to welcome both of them onto the Board of the Company.’
Powder Injection Moulding International recently visited GKN’s Langensalza MIM facilities – look out for our full report in a forthcoming issue.