GKN Marks 20th Anniversary of its Chinese Joint Venture - aftermarketNews

GKN Marks 20th Anniversary of its Chinese Joint Venture

Speaking in Shanghai, GKN Automotive's Chief Executive Nigel Stein noted that GKN was the first major European automotive supplier to invest in China and today is the country's leading producer of driveline components.

SHANGHAI, China — GKN Driveline is celebrating the 20th anniversary of its joint venture with Shanghai Automotive Industry Corporation (SAIC). Shanghai GKN Drive Shaft Company (SDS) was formed in 1988.

 

Speaking in Shanghai, GKN Automotive’s Chief Executive Nigel Stein noted that GKN was the first major European automotive supplier to invest in China and today is the country’s leading producer of driveline components.

 

"Shanghai GKN serves as an industry model for successful joint-venture operations in China and we anticipate continued growth for years to come," Stein said. "Over the last five years, Shanghai GKN has invested more than $100 million (RMB 1 billion) to expand production in China, including major investments for new manufacturing facilities in Wuhan and Chongqing."

 

Stein added that Shanghai GKN’s new 144,000-square-foot plant in Wuhan is on schedule to begin production early next year. The facility is expected to provide more than 600 jobs with an annual production capacity of more than one million driveshafts.

 

Underlining GKN’s growth plans in China, Stein said that GKN Driveline Torque Technology recently started production of transmission differentials for major Chinese and international vehicle manufacturers at its new, wholly-owned facility in Shanghai.

 

Shanghai GKN currently has five production facilities in China. In addition to its Wuhan and Chongqing plants, it has manufacturing operations in Kangqiao, Shenjiang and Zhoupu. The company annually produces more than 600,000 propshafts, 5 million sideshafts and 1.5 million universal joints.

 

Shanghai GKN’s major Chinese automotive partner, SAIC, is one of China’s top three automotive companies with sales last year of more than 1.1-million passenger cars and 550,000 commercial vehicles. In 2007, SAIC ranked 402 in Fortune Magazine’s top 500 list of global companies.

 

Other Chinese partners in Shanghai GKN include SDIC Machinery & Light Industries Company and Bank of Communications Company.

 

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