GKN completes acquisition of Fokker TechnologiesWednesday 28 October 2015
Following the satisfaction of regulatory and legal conditions, GKN Aerospace’s acquisition of Fokker Technologies, announced in July, has now completed.
The combining of Fokker Technologies with GKN Aerospace establishes a business with the widest range of capabilities in composite and advanced metallic products, and strong competencies in wiring systems and landing gear, both potential growth areas as the need to meet ever more stringent environmental targets increases demand for innovative, integrated, lighter structures. Fokker also brings a leading global brand in after market services to the combination.
- Expanded range of capabilities offers enhanced composite, advanced metallic and electrical wiring product portfolio
- New innovative technologies increases ability to meet customer weight and cost requirements
- Broader global footprint, particularly in Asia, strengthens ability to meet increased customer needs
- Creates stronger, more flexible partner to aerospace industry
Kevin Cummings, Chief Executive, GKN Aerospace, said:
“The addition of Fokker Technologies to GKN Aerospace strengthens our core aerostructures business, increases our exposure to key growth platforms, expands our global manufacturing footprint and broadens the innovative technological offerings we can provide to our customers.”
The combined business has sales of over £2.8bn and employs around 17,000 people in 61 locations across the globe. Fokker Technologies, under the current leadership, is a new division within GKN Aerospace, headquartered in The Netherlands. Its brand will continue to promote its strong heritage of technology and customer service.
Hans Büthker, CEO,Fokker Technologies, said:
“Joining GKN Aerospace is an exciting opportunity for Fokker Technologies and provides us an enhanced framework to expand our technologies and develop our products to meet the challenges of a very competitive, global marketplace. The partnerships we have established with customers, government and knowledge institutes can only benefit from being associated with a strong, long established company like GKN Aerospace with their technology driven culture. ”
The integration of Fokker Technologies is expected to continue throughout Q4 2015 combining best practices of both organisations
to create a world beating business.
Photo caption: Fokker Elmo employee working on Electrical Wiring Interconnection Systems (EWIS) in Hoogerheide, the Netherlands. Fokker Elmo uses a unique toolset to design and manufacture EWIS, this system is called WDMS (Wiring Design and Manufacturing System)
GKN plc is a global engineering group. It has four divisions; GKN Aerospace, GKN Driveline, GKN Powder Metallurgy and GKN Land Systems, which operate in the aerospace, automotive and land systems markets. Over 50,000 people work in GKN companies and joint ventures in more than 30 countries. GKN is listed on the London Stock Exchange (LSE: GKN) and recorded sales of GBP7.5 billion in the year to 31 December 2014.
GKN Aerospace is a global first tier supplier of airframe structures, engine components, transparencies and fuel/flotation systems, with sales of GBP2.2bn in 2014 and a global workforce of over 12,000 employees. It has a significant participation on all major aircraft programmes today and a broad customer base spanning commercial, military, business aerospace and space markets. The company’s extensive engineering capability and clear focus on targeted innovation has created technological and manufacturing leads in each of its areas of expertise.
Fokker Technologies is a leading global aerospace specialist that develops and manufactures highly engineered advanced aircraft systems and components for aircraft manufacturers and provides integrated maintenance services and products for aircraft owners and operators. The company was founded in 1919. Headquartered in Papendrecht, the Netherlands, Fokker Technologies operates facilities in the Netherlands, Romania, Turkey, Canada, Mexico, USA, China, India and Singapore, and employs approximately 4,900 people. For the year ended 31 December 2014, reported revenue was €758 million.
For further information, on this release please contact:
Sandra Fearon, Public Relations Manager for Aerospace, GKN Aerospace
Mobile: +44 (0)7767 334804. Email: firstname.lastname@example.org