British engineering group GKN acquires Volvo Aero

The announcement of the deal, which required GKN to take on £500m in debt, comes only two days after Boeing said it expects the size of the civil aviation aircraft fleet to double in the next 20 years.

Volvo Aero designs, engineers and manufactures components and sub-assemblies for aircraft engine turbines, and supplies most of the major aero-engine manufacturers in the civil aerospace sector.

Marcus Bryson, chief executive officer of GKN Aerospace and Land Systems, told The Engineer that he wanted to emulate the success GKN has witnessed with aerospace structures in aerospace engines. ‘The acquisition gives us an opportunity to deepen and strengthen our relationship with some of the engine guys,’ he said.

According to Bryson, GKN’s acquisitions have helped the company do a 180^o shift away from the military aerospace market and towards the civil aerospace market.

‘If you were to go back six years and look at GKN Aerospace, 70 per cent of our revenues came from the US Military and only 30 per cent came from civil,’ said Bryson. ‘If you look at our business now it’s about 55 per cent civil and 45 per cent military.