GKN has acquired a 33.3% stake in Tochigi Fuji Sangyo (TFS), a Japanese supplier of automotive driveline components, from Nissan and other major shareholders for approximately $39.2 million.
GKN also has obtained the right to acquire further shares at 415 Yen per share to bring its total potential holding in TFS to 50.4%.
TFS focuses on specialist driveline components – such as torque management devices for domestic Japanese vehicle manufacturers.
TFS and GKN’s Automotive Driveline Division have been partners for 16 years in a viscous coupling joint venture in Japan.
As a result of this investment, GKN’s Automotive Driveline Division and TFS intend to co-operate more closely on the development, engineering and sale of torque management devices and driveline related geared components to automotive original equipment manufacturers on a global basis.