A key automotive supplier has announced a £12m investment into its UK facilities.
GKN Driveline, part of the GKN group, made the announcement at the British Business Embassy summit on advanced engineering excellence. The summit is one of 17 organised to coincide with the Olympics in a bid to focus investment into UK manufacturing.
GKN supply automotive driveline systems and solutions to over 35 countries. The British company will pump £12m into its Birmingham and Telford facilities as confidence in the UK sector grows.
Nigel Stein, chief executive GKN said: “The UK is proving itself to be a strong automotive performer with a high proportion of exports. The success of our customers and their demand for GKN technology has meant we are now investing to increase capacity. This investment will help ensure the UK automotive sector continues to grow.”
The GKN plant in Birmingham manufactures propshafts and slideshafts for the UK car industry, and is an important engineering design and test facility.
GKN provide parts for the Range Rover Evoque and Nissan Qashq, both of which have seen successful sales over the last year. In July GKN announced strong first half sales figures up 16%, and a new acquisition in Volvo Aero.
Trade and Investment Minister, Lord Green said: “I warmly congratulate GKN on its expansion plans. GKN’s investment reflects the competitiveness of the UK’s automotive and aerospace sectors.”