GKN plc announces that its GKN Powder Metallurgy division has agreed to form a joint venture with Bazhou Hongsheng Industrial Company Ltd., located in Bazhou City, Hebei Province, China. The new venture plans to manufacture international grade ferrous powders and will be the first international grade powder producer in China. A Chinese merger-control review application has been filed and other necessary approvals are being sought.
NOTE TO EDITORS
GKN Powder Metallurgy is the world's largest manufacturer of sintered components and a leading producer of ferrous metal powders, serving the global PM marketplace. It is a subsidiary of GKN plc, Redditch, UK
Bazhou Hongsheng Industrial Company was established in 2009 and is already a leading provider of atomized iron and steel PM materials in China.