GKN Automotive Demerger Completed

Dowlais Group Announces Successful Separation of Businesses

WEB Dowlais, the owner of GKN Automotive, is pleased to announce the completion of the demerger of the GKN Automotive, GKN Powder Metallurgy, and GKN Hydrogen businesses from the Dowlais Group. The demerger, which was approved by GKN Automotive shareholders in December 2022, became effective on March 14, 2023.

Financial Outlook Maintained

Dowlais Group also announced that it expects a decline in full-year revenue in the mid-single digits. However, the company maintained its positive outlook for 2023. It reported that its first-half performance was ahead of expectations.

Strong Performance

GKN Automotive, which is now a standalone company, has been performing well. The company has a strong order book and is benefiting from the growing demand for electric vehicles. It is also expanding its operations globally, including in China and India.

Bright Future

The demerger is expected to benefit both Dowlais Group and GKN Automotive. Dowlais Group will be able to focus on its core businesses, while GKN Automotive will have the flexibility to pursue its own growth strategy. Both companies are confident that they have a bright future.