GKN Wheels sold to German asset manager

The agreement includes the purchase of all GKN Wheels sites, including the company’s R&D centres and the change in ownership is subject to regulatory approval.

The industry firm says it will benefit from the commitment and focus of Aurelius as it continues to grow as a significant player in the wheels industry.

“This change in ownership will mean that we have a focused new owner and our priority is to continue delivering on our business plan and providing best in class technology, quality, delivery and service to our customers globally,” said Abdul Butt, CEO of GKN Wheels. “The right product for the right application, at the right time. This is unchanged. We remain committed to delivering our business growth plans and putting our customers and employees at the heart of everything that we do.”

GKN Wheels is one of the world’s leading manufacturers of off-highway wheels and an innovative engineering solutions provider. The company employs 900 people worldwide with four manufacturing facilities in the UK, USA and Denmark in addition to test centres in Italy and the USA.

Going forward, Aurelius will work with GKN Wheels’ management team to continue delivering the company’s business plan. Aurelius will look to build on the company’s market position by exploring the potential for further sector consolidation and leveraging its operational expertise to help optimise the company’s activities.

The firm’s manufacturing plant in Telford is now producing more than three times as many wheels thanks to a recent multi-million-pound investment.

55 off-highway wheels now being manufactured every hour thanks to the new production lines that are now fully operational.

All that remains of the production plant from two years ago is the structure of the building. The production line has been completely re-built, including new rim lines, robotic weld cells and a state-of-the-art finishing plant.

Darren Dobson, head of operations at Telford, commented: “The factory is quite simply unrecognisable from what it was just a couple of years ago and we now have a modern, 21^st Century manufacturing facility.

“The project team which managed this whole programme is now working closely with our operations colleagues, helping to embed the new processes and procedures and to ensure the quality of our wheels continues to set the standards for the industry.”

“Throughout the programme, the Telford team has shown great determination and resilience in striving to achieve and even surpass the objectives we were set. Their efforts to develop and commission the new line and to continually focus on improving quality and efficiency has resulted in the plant running consistently to target.

“Balancing volume production runs and development time, we continue to look for productivity improvements and enhancements to the equipment to further improve efficiency and minimise downtime. It says a great deal about the team that whilst we have the world’s most modern manufacturing facility, we are constantly striving to make it even better.”

GKN Wheels and Structures www.gknwheels.com