In October 2020 GKN Wheels & Structures was acquired by Aurelius Equity Opportunities SE & Co. KGaA. The new owners announced that the acquisition was completed on 26 November 2020 and since then, the company has been “planning for our future”. This means “listening to [its] teams internally as well as our external stakeholders-working to look at how we can work better and smarter together as we move forward”. But in practice the most noticeable immediate development is the decision to rename the business as Moveero.
German asset management firm Aurelius Equity Opportunities SE & Co. KGaA is acquiring the GKN Wheels & Structures business from GKN. The transaction is expected to complete in November and is conditional on receiving anti-trust approval. Following the deal’s completion, GKN Wheels & Structures will gain an as-yet-undisclosed new name.
GKN Wheels’ multi-million-pound investment programme at its Telford factory has resulted in the achievement of record targets. Despite a number of obstacles, not least the impact Coronavirus pandemic has had on the plant’s operational capabilities, the new manufacturing plant is now producing more than three times as many wheels as the old plant, with 55 high-quality off-highway wheels now being manufactured every hour. With the new line now fully operational, the old lines and assembly cells have now been decommissioned and disposed of.
GKN Wheels and Structures report that the company was one of the key partners in JCB’s recent tractor speed record. Following two successful runs at Elvington Airfield in York, the JCB Fastrac broke the world record for a tractor, achieving a peak speed of an incredible 153.771mph and an average of 135.191mph.
GKN Wheels and Structures has produced a new catalogue covering the company’s extensive range of hubs and spindles. With detailed technical and application information, together with images and dimensioned line drawings of each product in the range, the catalogue also includes full details of the company’s recently launched Profi-Hub range.