GKN Automotive Demerger Completed by Dowlais
Dowlais Group Maintains 2023 Outlook After Demerger
Group's First-Half Performance Ahead of Plan
WEB Dowlais has announced the completion of the demerger of the GKN Automotive, GKN Powder Metallurgy, and GKN Hydrogen businesses from the Dowlais Group. This follows the successful completion of the acquisition of GKN Automotive by the Dowlais Group in January 2022.
The demerger marks a significant milestone for both Dowlais and GKN Automotive, providing each company with increased flexibility and focus to pursue their respective strategic objectives. Dowlais will continue to operate as a leading provider of high-quality metal processing and engineering solutions, while GKN Automotive will focus on its core automotive business.
Following the demerger, Dowlais Group maintained its 2023 outlook and reported that its first-half performance was ahead of expectations. The Group's financial position remains strong, and it is confident in its ability to deliver sustained long-term growth.
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