Dowlais Maintains Outlook Despite Powder Metallurgy Demerger
DOWLAIS GROUP
Automotive Division Outlook Remains Strong
Dowlais, a British automotive supplier, has maintained its 2023 outlook following the completion of the demerger of its GKN Automotive GKN Powder Metallurgy division.
The group said on Thursday that its first-half performance was in line with expectations. Despite the ongoing challenging economic environment, Dowlais expects its full-year revenue to be similar to 2023 levels.
The Dowlais businesses include GKN Automotive, GKN Powder Metallurgy, and GKN Hydrogen. The group's automotive division continues to perform strongly, supported by increased demand for electric vehicles and lightweight components.
The demerger of GKN Powder Metallurgy, which was completed on March 31, 2023, has allowed Dowlais to focus on its core automotive and hydrogen businesses.
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