5th Sep 2011 13:45
NEWS RELEASEGKN plc5 September 2011 GKN completes acquisition of Stromag Holding GmbH
GKN plc confirms that the acquisition of Stromag Holding GmbH (Stromag), announced on 18 July 2011, completed today.
Stromag will be integrated into the GKN Land Systems Power Management Division. The acquisition is an important step in the implementation of GKN Land Systems' strategy to become a global leader in Industrial Power Management and will provide a platform for growth in existing markets together with access to a number of new and attractive industrial segments including renewable energy.
GKN welcomes the entire Stromag team into the GKN family and we look forward to an exciting future combining our world class capabilities.
Further Enquiries
Guy Stainer
Director, Investor Relations and External Communications
GKN plcT: +44 (0)207 463 2382M: +44 (0)7739 778 187E: [email protected] Statement
This announcement contains forward looking statements which are made in good faith based on the information available to the time of its approval. It is believed that the expectations reflected in these statements are reasonable but they may be affected by a number of risks and uncertainties that are inherent in any forward looking statementwhich could cause actual results to differ materially from those currently anticipated.
Notes to Editors
GKN Land Systems is a global, market leading supplier to the agricultural, construction, industrial, mining and automotive industries and is supported by an extensive aftermarket organisation through a network of distribution points. GKN Land Systems has more than 5,000 employees worldwide and has facilities in Europe, North and South America and China.
GKN plc is a global engineering business serving the automotive, aerospace and land systems markets. It has operations in more than 30 countries, around 40,000 employees in subsidiaries and joint ventures and had sales of £5.4 billion in the year ended 31 December 2010. GKN plc is listed on the London Stock Exchange .
1
PINXRelated Shares:
GKN PLC