18th Nov 2005 13:48
GKN acquisition broadens Off Highway product line-upGKN today announces a small, specialist acquisition in the US which will add tothe range of products supplied by its Off Highway division to the world'smanufacturers of agricultural and construction equipment.GKN has acquired from the Lakin Manufacturing Corporation, for a cashconsideration of ‚£6.0 million, QDS Henschen Inc, a manufacturer of wheel hubs,spindles, torsion axles and springs. QDS Henschen, which employs 110 people atits facility in Jackson Center, Ohio has an annual turnover of ‚£14 million. Theconsideration is being satisfied from existing resources.Martyn Vaughan, Chief Executive of GKN OffHighway, said: "This new addition toour product range will integrate very well with our existing portfolio whichalready occupies world leading positions in our markets. We have had amarketing arrangement with QDS Henschen for a number of years and so we knowthe business well."GKN OffHighway is a successful first tier supplier to the world's leadingmanufacturers of agricultural and construction equipment and has operations inthe Americas, Europe and China. Its products include wheels, axles,transmission systems and power take-off shafts.For further information:GKN Corporate Communications+44 (0)20 7463 2354ENDGKN PLCRelated Shares:
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