GKN says automotive arm will deliver £153m of annual benefits by 2020
GKN has outlined its plans for the future of its automotive division in its latest attempt to scupper its hostile takeover by turnaround specialist Melrose.
The foundation of the plans is the so-called Project Boost reorganisation strategy, which underlines the aim of delivering significantly improved margins and cash flows for the business.
By implementing Project Boost within the Driveline business, GKN expects to deliver £153m of recurring annual cash benefits from the end of 2020.
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