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GKN to make PM in China
Metal Powder Report Volume 70, Number 6 November/December 2015
NEWS
WC specialist acquired by asset management firm GLE Precision, a manufacturer of tungsten carbide tooling, gauges and product components used in a range industries, has been acquired by Victory Park Capital (VPC), an asset management firm focused on middle market debt and equity investments. VPC plans to support the company’s growth
initiatives as it expands into new end markets. ‘GLE’s reputation for technical competency, extreme micro-precision, quality and reliability is impressive, and represents a significant opportunity for VPC to support the company as it expands its presence in
the precision machining industry,’ said Jason Brown, partner at VPC. ‘We look forward to working with [GLE president Clint] Bucholz and the management team and believe the company is well positioned to execute on its next phase of growth.’ GLE Precision; www.gle-precision.com
GKN Sinter Metals has unveiled its newly renovated facility in St Mary’s, Pennsylvania. The renovations include improvements in various locations in the plant as well as two new additions: a training and
development center and innovation showroom. ‘I was very keen to see us raise the game and to continue to be the biggest powder metal company in the world,’ said Nigel Stein, CEO of GKN.
GKN plans to renovation other Sinter Metals plants to address future growth and improved facility layout.
The new venture plans to manufacture international grade ferrous powders and will be the first international grade powder producer in China. A Chinese
merger-control review application has been filed and other necessary approvals are being sought. GKN; www.gkn.com
logistic services to aircraft owners and operators. ‘Fokker is a great business with strong customer relationships and a recognised commitment to the development and application of innovative technology,’ said Kevin Cummings, chief executive, GKN Aerospace. ‘It is an excellent business that fits well with GKN Aerospace. Strategically, this acquisition strengthens GKN Aerospace’s position as a market leader, enhances its global manufacturing footprint and adds new technology. It also increases GKN’s shipset value on key growth programmes in both the commercial and military markets.’
Global footprint
GKN Sinter sintermetals
Metals;
www.gkn.com/
GKN to make PM in China GKN Powder Metallurgy has agreed to form a joint venture with Bazhou Hongsheng Industrial Company Ltd., located in Bazhou City, Hebei Province, China.
GKN to acquire Fokker Technologies GKN Plc has agreed to acquire Fokker Technologies Group B.V. (‘‘Fokker’’) from Arle Capital for an enterprise value of s706 million (£499 million). Fokker is a specialist Tier 1 supplier to the commercial, military and business jet markets and has almost 5000 employees. It is headquartered in the Netherlands and has operations in Europe, North America and Asia. In the year ended 31 December 2014, Fokker generated revenue of s758 million. Fokker specializes in the design, development and production of lightweight aero structures, electrical wiring interconnection systems and landing gear. It also provides maintenance, modification and
‘The combination of GKN Aerospace and Fokker will create a world-leading, innovative multi technology aerospace company ¨ thker with a global footprint,’ said Hans Bu CEO, Fokker Technologies. ‘GKN Aerospace and Fokker together have an impressive multi-technology portfolio for our customers.’ Once the acquisition is completed, Fokker, under the current leadership, will become a new operating unit within GKN Aerospace. Fokker’s headquarters will remain in the Netherlands where it will continue to run its R&D and manufacturing facilities. Fokker Technologies; www.fokker.com
GKN Sinter Metals in India wins Ford quality award Ford Motor Company has presented the GKN Sinter Metals Plant in Pimpri,
India with its Q1 award for supplier excellence.
According to the company the award is only given to suppliers achieving a
279
NEWS
GKN Sinter Metals updates Pennsylvania facility
NEWS
WC specialist acquired by asset management firm GLE Precision, a manufacturer of tungsten carbide tooling, gauges and product components used in a range industries, has been acquired by Victory Park Capital (VPC), an asset management firm focused on middle market debt and equity investments. VPC plans to support the company’s growth
initiatives as it expands into new end markets. ‘GLE’s reputation for technical competency, extreme micro-precision, quality and reliability is impressive, and represents a significant opportunity for VPC to support the company as it expands its presence in
the precision machining industry,’ said Jason Brown, partner at VPC. ‘We look forward to working with [GLE president Clint] Bucholz and the management team and believe the company is well positioned to execute on its next phase of growth.’ GLE Precision; www.gle-precision.com
GKN Sinter Metals has unveiled its newly renovated facility in St Mary’s, Pennsylvania. The renovations include improvements in various locations in the plant as well as two new additions: a training and
development center and innovation showroom. ‘I was very keen to see us raise the game and to continue to be the biggest powder metal company in the world,’ said Nigel Stein, CEO of GKN.
GKN plans to renovation other Sinter Metals plants to address future growth and improved facility layout.
The new venture plans to manufacture international grade ferrous powders and will be the first international grade powder producer in China. A Chinese
merger-control review application has been filed and other necessary approvals are being sought. GKN; www.gkn.com
logistic services to aircraft owners and operators. ‘Fokker is a great business with strong customer relationships and a recognised commitment to the development and application of innovative technology,’ said Kevin Cummings, chief executive, GKN Aerospace. ‘It is an excellent business that fits well with GKN Aerospace. Strategically, this acquisition strengthens GKN Aerospace’s position as a market leader, enhances its global manufacturing footprint and adds new technology. It also increases GKN’s shipset value on key growth programmes in both the commercial and military markets.’
Global footprint
GKN Sinter sintermetals
Metals;
www.gkn.com/
GKN to make PM in China GKN Powder Metallurgy has agreed to form a joint venture with Bazhou Hongsheng Industrial Company Ltd., located in Bazhou City, Hebei Province, China.
GKN to acquire Fokker Technologies GKN Plc has agreed to acquire Fokker Technologies Group B.V. (‘‘Fokker’’) from Arle Capital for an enterprise value of s706 million (£499 million). Fokker is a specialist Tier 1 supplier to the commercial, military and business jet markets and has almost 5000 employees. It is headquartered in the Netherlands and has operations in Europe, North America and Asia. In the year ended 31 December 2014, Fokker generated revenue of s758 million. Fokker specializes in the design, development and production of lightweight aero structures, electrical wiring interconnection systems and landing gear. It also provides maintenance, modification and
‘The combination of GKN Aerospace and Fokker will create a world-leading, innovative multi technology aerospace company ¨ thker with a global footprint,’ said Hans Bu CEO, Fokker Technologies. ‘GKN Aerospace and Fokker together have an impressive multi-technology portfolio for our customers.’ Once the acquisition is completed, Fokker, under the current leadership, will become a new operating unit within GKN Aerospace. Fokker’s headquarters will remain in the Netherlands where it will continue to run its R&D and manufacturing facilities. Fokker Technologies; www.fokker.com
GKN Sinter Metals in India wins Ford quality award Ford Motor Company has presented the GKN Sinter Metals Plant in Pimpri,
India with its Q1 award for supplier excellence.
According to the company the award is only given to suppliers achieving a
279
NEWS
GKN Sinter Metals updates Pennsylvania facility