GKN Driveline Announces Further Expansion In China
CHONGQING, China, Sept. 16, 2013 /PRNewswire/ -- GKN Driveline continues its expansion in China with ground-breaking for the expansion of its production facilities in Chongqing.
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GKN Chongqing Driveshaft (GDC) is investing $43.9 million to expand the plant which will cover an area of nearly 12,000 square meters when construction is completed in 2014. The expansion will allow localization of CVJ system production for OEMs in the Chongqing area. Production is expected to start in July 2014 and when completed, the plant will have capacity of more than one million vehicle sets per year.
"Chongqing is the automotive manufacturing center for Southwest China, with fast growing customer demand and market forecasts of two million cars by 2015," said Andy Reynolds Smith, CEO GKN Automotive. "Our rapidly increasing China footprint allows us to better serve our customers such as ChangAn-Ford, creating more efficiency in supply chains with localized supply and continued high levels of service. This builds on our existing highly successful operational base of eight plants."
GDC, established in August 2006, is a joint venture shared by GKN, Shanghai GKN Driveshaft Co., Ltd. (SDS) and China ChangAn Automobile Group. Its main products are CVJ shafts. Customers include ChangAn-Ford, ChangAn-Mazda, ChangAn-Suzuki, ChangAn, JAC, Great Wall, BAIC Motor and SGMW.
About GKN Driveline
GKN Driveline is the world's leading supplier of automotive driveline components and systems. As a global company serving the world's leading vehicle manufacturers, GKN Driveline develops, builds and supplies an extensive range of automotive driveline components – for use in the smallest ultra low-cost car to the most sophisticated premium vehicle demanding the most complex driving dynamics.
GKN Driveline is a leading global producer of CVJ Systems, AWD Systems, Trans Axle Solutions and eDrive Systems and operates in 22 countries at 56 locations employing 22,000 people.
GKN in China - In 1988, GKN was the first western company to invest in the automotive component industry in China. Through more than 25 years investment and development of our capabilities, GKN now operates from 14 locations in China with one under construction, employing more than 5,500 people and also serves a number of high growth markets including agricultural and construction.
About the GKN Group
GKN plc is a global engineering business serving mainly the automotive, aerospace and land systems markets. It has operations in more than 32 countries, around 48,000 employees in subsidiaries and joint ventures and had sales of £6.9 billion in the year to 31 December 2012. GKN plc is listed on the London Stock Exchange (LSE: GKN).
SOURCE GKN Driveline
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