GKN completes acquisition of Getrag's Driveline Products Business
GKN plc confirms that the acquisition of Getrag's Driveline Products Business (comprising Getrag Corporation based in the United States and Getrag All Wheel Drive AB based in Sweden), announced on 28 July 2011.
Getrag Driveline Products, which will be integrated into GKN Driveline, is an excellent fit with GKN's existing range of products and technology. With operations in the United States and Europe, Getrag Driveline Products has a product, manufacturing and customer footprint that is complementary to GKN's own all-wheel-drive (AWD) product business, which is predominantly based in Asia. The combined business is the leading global player in AWD driveline products with an excellent customer base and product portfolio.
In addition, GKN is also acquiring an exclusive licence, principally for Europe and the Americas, to Getrag's electric drivetrain technology for use in electric and certain hybrid vehicles making GKN a leading player in eDrive solutions.
GKN welcomes the entire Getrag Driveline Products' team into the GKN family and we look forward to an exciting future combining our world class capabilities.