23rd Feb 2005 08:58
For immediate release Date 23 February 2005 GKN expands its presence in ChinaGKN today announces that it has entered into an agreement to form a new companyin China with Henan Zhongyuan Engine Fittings Stock Company Limited (ZYNP).The new company, GKN Zhongyuan Cylinder Liner Company, will be established on agreenfield site in Mengzhou City in Henan Province and GKN and ZYNP will own59% and 41% respectively.The new company will focus on the production and sale of truck engine cylinderliners for the domestic Chinese market and for some selected exportapplications. Through its Sheepbridge Stokes business GKN is already a worldleader in cylinder liners for automotive, industrial and marine applications.GKN has been present in China for 16 years and has three existing joint venturecompanies active in the Chinese light vehicle driveline market.The new company will become operational in early 2006 and will ultimatelyemploy approximately 700 people. The partners estimate that some ‚£16.4 millionwill be invested over time.For further information:GKN Corporate Communications+44 (0)20 7463 2354ENDRelated Shares:
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