GKN Automotive Becomes GKN Driveline
Resource from: CBCC Likes:3057
Sep 15,2003
GKN plc (UK) automotive division, GKN Automotive Inc. (USA), is changing its name to GKN Driveline.
GKN is a key driveline component supplier to auto manufacturers, and one of the world's largest auto parts manufacturers overall. GKN Driveline alone has 21,000 employees in 49 locations across 31 countries.
The name change for the $2.3 billion (North American automotive OEM sales) GKN Driveline business reflects its drive to reposition its image with customers as an end-to-end vendor of complete driveline systems.
Constant velocity joint (CVJ) bearings for driveshafts and axle shafts are the core product line for GKN, where it commands a 43% worldwide market share. Currently, 80% of GKN Driveline sales are from CV joints. However, with already-deep market penetration and inroads being made by competitors, GKN said it does not see significant growth opportunities in the CVJ market.
Ted Rodewig, GKN Driveline Marketing Director, said, "Over the years, GKN's driveline business has, like many others, grown through acquisition and diversification. Today, we are the largest automotive driveline component supplier in the world, but with a heritage of brand names and operational units in different markets that signaled diversity, rather than focus."
Mr. Rodewig added, "Many customers think of GKN Driveline primarily as a CVJ supplier. However, through our own operations and those of our partner, Tochigi Fuji Sangyo, we offer an unmatched range of products that cover the complete vehicle driveline, from the output of the transmission to the wheel hubs."
In fact, GKN actually supplies a wide variety of driveline components -- gears, axles, shafts, couplings, CV joints, transmission components, and even wheel hub bearing units. And it has been moving toward driveline controls and technology, with integrated electronic-mechanical systems, as more and more manufacturers outsource driveline manufacture.
As GKN Driveline, the company said it has been given additional leeway by the parent company to aggressively pursue joint ventures, alliances and acquisitions. It has a 33.3% stake in Tochigi Fuji Sangyo.
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