GKN completes Volvo Aero acquisition

GKN plc completed the acquisition of Volvo Aero (the aero engine division of AB Volvo). Volvo Aero designs, engineers and manufactures components and sub-assemblies for aircraft engine turbines, and supplies all the major aero engine manufacturers. It employs some 3,000 people based in Sweden, Norway and the USA and has strong life-of-programme positions on existing platforms and a pipeline of new technology, offering a long-term revenue stream and opportunities for growth. The combination of GKN Aerospace and Volvo Aero creates a world leader in both aero structures and aero engine components. The new business is to be called ‘GKN Aerospace Engine Systems’ and combines GKN Aerospace’s composite leadership with Volvo Aero’s strong metallic technology to provide a unique offering to customers who are focused on lightweight, high performance engine solutions.