GKN Driveline expands into Russia
REDDITCH, England--Jan. 15, 2014: GKN Driveline, part of global Automotive and Aerospace engineering group GKN plc, is strengthening its global footprint with a new automotive manufacturing operation in the increasingly important Russian market.
GKN Driveline is to initially open a 5,000 square meter plant in Togliatti, a city in the Volga region of Russia, where a number of large car manufacturers are already based. GKN production of constant velocity jointed sideshafts for a number of automotive customers is expected to commence in early 2015.
Andrew Reynolds Smith, CEO GKN Automotive, said: "Russia is a key growth market for car manufacturers and this is an important step for GKN. A key part of our strategy is to continue the development of our global footprint, building the capability to add more value for our customers across a range of Driveline products. GKN already supplies Driveline products to many of the large car manufacturers in Russia, but the new plant, which is the first of its kind in the country, will offer locally-produced products together with the excellent service our customers already expect from GKN."
The Russian automotive industry produces over two million cars each year. Production is forecast to grow driven by increasing demand and government policies that are aimed at creating new production facilities and additional investment in the automotive market.