GKN completes acquisition of Turkish PM manufacturer Tozmetal

6/2/2017 1:00 AM
Powder Metallurgy

The acquisition of Tozmetal Ticaret Ve Sanayi AS (Tozmetal), announced on 13 April, has now completed. The powder metal part manufacturer based in Turkey will expand the global footprint of GKN Sinter Metals, the world’s largest manufacturer of sintered components which now comprises production locations in 10 countries and over 7,000 employees.

Tozmetal focuses much of its output on hydraulic pump components for European automotive customers.

At a celebratory event, employees of Tozmetal were welcomed by Wolfram Messner, President Global Small Segment Operations.

During the event, Messner said: “Tozmetal is an excellent fit and provides increased access to new customers in the Middle East region.

“I am delighted to announce that Mr. Hüsnü Özdüral, who for years has been managing and growing the company successfully, will continue to lead the plant. We will work closely with the local team to make the site a strong platform to help grow our business and support our customers in the region,” Messner added.

About GKN Powder Metallurgy

GKN Powder Metallurgy comprises GKN Sinter Metals and Hoeganaes. GKN Sinter Metals is the world’s leading manufacturer of precision automotive components as well as components for industrial and consumer applications. Hoeganaes is one of the world’s largest manufacturers of metal powder, the essential raw material for powder metallurgy. GKN Powder Metallurgy is in close proximity to its customers with more than 30 global locations and more than 7,000 employees.

About GKN plc

GKN plc is a global engineering group. It has three divisions; GKN Aerospace, GKN Driveline and GKN Powder Metallurgy, which operate in the aerospace and automotive markets. Over 58,000 people work in GKN companies and joint ventures in more than 30 countries. GKN is listed on the London Stock Exchange (LSE: GKN) and recorded sales of £9.4 billion in the year to 31 December 2016.