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- Published: 10 Mar 2007
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Company name | GKN plc |
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Company logo | |
Company type | Public limited company() |
Foundation | 1759 |
Location | Redditch, United Kingdom |
Key people | Roy Brown, (Chairman)Sir Kevin Smith, (CEO) |
Industry | Automotive & aerospace engineering |
Products | Vehicle and aircraft parts |
Revenue | £5,084 million (2010) |
Operating income | £385 million (2010) |
Homepage | www.gkn.com |
GKN plc () is a multinational engineering company headquartered in Redditch, United Kingdom. The company was formerly known as Guest, Keen and Nettlefolds and can trace its origins back to 1759 and the birth of the industrial revolution. In 2009 the company celebrated its 250th anniversary.
It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.
By the mid 1860s, Clark's reforms had born fruit in renewed profitability. Clark delegated day-to-day management to Menelaus, his trusteeship terminating in 1864 when ownership passed to Sir Ivor Guest. However, Clark continued to direct policy, in particular, building a new plant at the docks at Cardiff and vetoing a joint-stock company. He formally retired in 1897.
Nettlefolds Limited, a leading manufacturer of fasteners, had been established in Smethwick in 1854 and was acquired in 1902 leading to the change of name to Guest, Keen and Nettlefolds.
The next year, in 1920, GKN purchased the steel company John Lysaght and their subsidiary, Joseph Sankey and Sons, Ltd..
During the 1980s, GKN sought to invest its earnings from constant-velocity joints in developing other nascent technologies. However, little success attended these efforts and in 1991 the company resolved to abandon further research and to redivert its development efforts towards its constant-velocity joint business in which it was facing increasing competition from Japan. During the same period, the company finally withdrew from the manufacture of fasteners and from steel production. Changing its name to GKN plc, it diversified into military vehicles, aerospace and industrial services.
In 1994, GKN acquired the helicopter manufacturing business of Westland Aircraft.
In 2008 the company acquired part of the Airbus plant at Filton near Bristol for £150 million.
Category:Companies based in Worcestershire Category:Companies established in the 18th century
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