GKN plc (Cowes, Isle of Wight, U.K.) on Oct. confirms that it has completed the acquisition of Volvo Aero (Kongsberg, Norway).
Volvo Aero designs, engineers and manufactures components and subassemblies for aircraft engine turbines, and supplies all the major aero engine manufacturers. It employs some 3,000 people based in Sweden, Norway and the USA and has strong life-of-program positions on existing platforms and a pipeline of new technology, offering a long-term revenue stream and opportunities for growth.
The combination of GKN Aerospace and Volvo Aero creates a world leader in both aero structures and aero engine components. The new business is to be called GKN Aerospace Engine Systems and combines GKN Aerospace’s composite leadership with Volvo Aero’s strong metallic technology to provide a unique offering to customers who are focused on light-weight, high-performance engine solutions.
Marcus Bryson, CEO, GKN Aerospace and Land Systems, explains: “Bringing Volvo Aero into GKN Aerospace creates a powerful enterprise with a strong and balanced offering to the airframe and aeroengine primes. GKN Aerospace Engine Systems has the ability to compete at the engine module level, responding to the aeroengine primes’ growing requirement for suppliers with the skills, technological expertise and financial strength to make this level of contribution to their future engine programmes.
Bryson continues: “GKN Aerospace Engine Systems offers what we believe is an unmatched range of capabilities across composite and metallic design and manufacture. It also integrates the highly focused research and development activities of both operations – extending the potential performance benefits for future airframe and aeroengine programmes.”
With this acquisition annual sales at GKN Aerospace will exceed £2 billion and represent approximately one third of GKN group sales. The total workforce will approach 12,000 and will include more than 1,000 highly skilled engineers.
