Annual Report 2008 in PDF - GKN

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24 Business Review: Powder Metallurgy POWDER METALLURGY GKN Sinter Metals is the world’s largest manufacturer of sintered components. It uses powdered metals to manufacture precision automotive components for engines, transmissions, and body and chassis applications. It also produces a range of components for industrial and consumer applications, including power tools, bearings, white goods and garden equipment. Hoeganaes produces metal powders, largely ferrous based, used in the manufacture of sintered components. Technology and Innovation GKN plc Annual Report 2008 Andrew Reynolds Smith Chief Executive Powder Metallurgy and OffHighway Powder Metallurgy comprises: GKN Sinter Metals and Hoeganaes
Continuing evolution of powder metal technology GKN is a world leader in powder metallurgy, a technology which can produce a wide range of automotive and industrial components more efficiently and at less cost than conventional processes such as casting and forging. It is well placed to serve global markets with operations across the world; a new plant in Chivilcoy was officially opened by the President of Argentina during the year. With around 80% of Powder Metallurgy’s sales to automotive customers, alignment to the developing technology trends in automotive markets such as improved fuel efficiency and reduced CO 2 emissions is a key focus of the business. Latest developments driven by demand for high precision and the use of new materials have led to successful contract wins for components such as helical gears for e-steering systems, ramp thrust drives for torque vectoring, high strength synchroniser hubs for new transmissions, and rotor and stator sets for variable valve timing systems. Powder metal technology enables a fl exible design of complex shapes which can be manufactured from a wide range of material: low alloyed steels for structural parts of engines and transmissions, stainless steels for corrosion resistant applications, and special alloys for environments subject to extreme temperature and corrosive conditions. In addition, the ferrous based metal powder used by GKN is manufactured using approximately 98% recycled steel and is complemented by the ability to produce components at, or close to, net shape enabling a reduction in material waste and associated energy consumption. Business Review Automotive Powder Metallurgy OffHighway Aerospace www.gkn.com 25 Sales* 13% of total Group sales £618m (2007 – £602m) Trading Profi t/(Loss)* £(2)m (2007 – £29m) * on a management basis
Page 1 and 2: GKN plc Annual Report and Accounts
Page 3 and 4: Our Objective GKN is committed to p
Page 5 and 6: 2008 Performance* Group results sig
Page 7 and 8: Although we expect 2009 to be a ver
Page 9 and 10: Constant velocity joints (CVJs) rev
Page 11 and 12: Off-highway driveshaft Blended wing
Page 13 and 14: Strategy and business objectives Th
Page 15 and 16: Operating cash flow performance of
Page 17 and 18: Restructuring and impairment costs
Page 19 and 20: 2008 2007 Tax charge analysis % % W
Page 21 and 22: Overseas pensions The principal cou
Page 23 and 24: GKN received the prestigious Nissan
Page 25 and 26: GKN Driveline manufactures across a
Page 27: 2008 2007 GKN Driveline £m £m Sal
Page 31 and 32: Despite a £6 million positive impa
Page 33 and 34: GKN OffHighway is a first tier supp
Page 35 and 36: Trading profit of subsidiaries of
Page 37 and 38: In January 2009 GKN completed the a
Page 39 and 40: Divisional strategy GKN Aerospace
Page 41 and 42: Financing The following section des
Page 43 and 44: Competitive markets and competition
Page 45 and 46: Living the Values GKN is a group of
Page 47 and 48: Delivering advanced technology Deli
Page 49 and 50: Engaging more fully with our employ
Page 51 and 52: Accident frequency rate (AFR) Numbe
Page 53 and 54: Contributing to our communities We
Page 55 and 56: Andrew Reynolds Smith (42) Chief Ex
Page 57 and 58: Dividend An interim dividend of 4.5
Page 59 and 60: On joining the Board, a Director re
Page 61 and 62: Directors’ attendance record The
Page 63 and 64: Audit Committee Report Role of the
Page 65 and 66: Directors’ Remuneration Report Ro
Page 67 and 68: The companies making up the compara
Page 69 and 70: The arrangements for providing reti
Page 71 and 72: Governance Directors’ Remuneratio
Page 73 and 74: Details of the options over GKN sha
Page 75 and 76: Governance Share interests The bene
Page 77 and 78: Independent Auditors’ Report to t
Page 79 and 80:
Consolidated Statement of Recognise
Page 81 and 82:
Consolidated Cash Flow Statement Fo
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charges relating to the Group-wide
Page 85 and 86:
Financial Statements Notes to the F
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2 Segmental analysis continued Prim
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3 Operating profit continued (v) Au
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3 Operating profit continued (c) Am
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5 Taxation continued Financial Stat
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11 Goodwill and other intangible as
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11 Goodwill and other intangible as
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14 Other receivables and investment
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18 Net borrowings continued Financi
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Financial Statements 19 Financial r
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24 Acquisitions There were no acqui
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26 Post-employment obligations Fina
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26 Post-employment obligations cont
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Independent Auditors’ Report to t
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Notes to the Financial Statements o
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Group Financial Record For the year
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OffHighway GKN OffHighway Ltd GKN W
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Unsolicited mail GKN is obliged by
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Contact Details GKN plc PO Box 55 I
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Annual Report 2008 in PDF - GKN

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