GKN Automotive to shutter North Carolina facility
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141 GKN Automotive’s former parent company, Melrose Industries, formed a new public company dubbed Dowlais. Melrose completed its demerger in April 2023, spinning off GKN Automotive, GKN Powder Metallurgy and GKN Hydrogen under Dowlais, while GKN Aerospace remains under Melrose Industries. Dowlais is independent from Melrose.
“We have a clear strategy to create value for our stakeholders by: delivering industry leading financial performance; facilitating the world’s transition to electric vehicles through a portfolio of cutting-edge products; and accelerating growth through a disciplined M&A strategy,” Dowlais CEO Liam Butterworth said in an April 2023 press release.
The Timberlake facility is the second North Carolina site GKN Automotive closed in the past year. The auto parts maker closed its facility in Sanford in March of last year, according to a WARN Act post.
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