GKN plc Announces New Composite Aerostructures Manufacturing Facility According to BAC Company Report
08 Aug 2012 • by Natalie Aster
LONDON - GKN Aerospace announced creation of a new composites production facility located in Mexico. The new fabric has a space of 80,000 ft2 and is planned to accommodate 100 workers by 2017. Plant’s first order will be designed for the Sikorsky Black Hawk helicopter. All staff will be recruited and trained locally, and will further engage in production of structures for both fixed and rotary wing aircraft.
The Mexican factory is posed to help Alabama factory cope with the demand pressure. In the last 10 years Alabama operation multiplied by 500%, and the coming years are to deliver further growth.
GKN Plc, parent company for GKN Aerospace, has shown good performance during the FY 2011. Strong results followed the 2010 success. Year over Year revenue increased by 13.2% to GBP 5.74 B, operating income lost 2.9% and amounted GBP 374 M, EBIT added 1.7% to GBP 351 M, net income went down by 8.5% and equaled GBP 279 M. These numbers solidified GKN recovery from tough position in 2008 and 2009.
Aerospace segment comprises 25% of GKN total sales. In 2011 segment revenues rose by 2.1% to GBP 1,481 M due to new facility opening and overall positive performance of aerospace market. The outlook for the market projects passenger air traffic increase by 5% and cargo traffic increase by 6% annually. Boeing and Airbus forecast that between 28,000 and 32,000 new single-aisle and wide-bodied aircraft will be required globally over the next 20 years. 40% of all the units will replace the old machines, 60% will satisfy growing demand.
Founded in 1759 and headquartered in Worcestershire (United Kingdom), GKN engages in gross engineering projects within four divisions: Driveline, Powder Metallurgy, Aerospace and Land Systems. Employing about 44,000 people in over 35 countries, GKN is a global leader in its fields. Its shares are listed on London Stock Exchange under the ticker GKN.
Further reading on the company’s activities, products, business possibilities and experts’ forecasts can be found in the report “GKN plc Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis” recently published by Market Publishers Ltd.
Title: GKN plc Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis
Date: Jul, 2012
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