29th Mar 2006 14:46
New manufacturing plant signals GKN's continued growth in ChinaGKN plc of the UK today officially opened its latest manufacturing operation inChina.The new business - GKN Zhongyuan Cylinder Liner Company Limited (GKNZ) - is ajoint venture between GKN, which holds 59% of the company and Henan ZhongyuanEngine Fittings Stock Company Limited which holds 41%.The new GKNZ plant, which has been established on a greenfield site in MengzhouCity, Henan Province in the People's Republic of China, will produce truckengine cylinder liners.Construction of the green field facility began in April 2005 and earlyproduction trials were underway by the end of the year. At its full capacity,which is due on stream by the end of 2006, the site will produce 3 millioncylinder liners per annum for the domestic Chinese and export truck markets andwill employ in the region of 700 people.By this time, the two partners will have jointly invested some ‚£16.3 million inthe facility, which incorporates full foundry and machining operations.Mr Walter Rohregger, Managing Director of the newly established GKN Chinaoffice in Shanghai, was among the 300 hundred-plus attendees at the opening.He said: "A strong presence in China is critical to GKN's continued developmentand this new company with its brand new manufacturing facility is another stepforward in our strategic growth in this important market. GKN has beenoperating successfully in China for 17 years and we currently employ 2,000people across our wholly owned businesses and joint ventures. By the end of thedecade we expect our continued expansion to double our China workforce to morethan 4,000."For further information:GKN Corporate CommunicationsT +44 (20) 7463 2354ENDGKN PLCRelated Shares:
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