GKN flies high with £600m deals
GKN, the aircraft components giant based in Redditch, has secured two deals worth £600m to make parts for Rolls-Royce and General Electric (GE) aircraft engines.
According to reports, the firm has signed a £300m deal to make tail bearings for two Rolls’ Trent engines at its plant in California until 2020 and has also won a five-year deal for the same fee to supply components for both commercial and military aircrafts for GE Aviation.
The company will also create elements of Airbus’s new 350 XWB aeroplanes in a separate deal for an undisclosed sum, the first delivery for which is set for next year.
GKN companies employ approximately 38,500 people in 30 different countries.The company had sales of £4.5 bn and trading profit of £156m in the year ended 31 December 2009.
