GKN issues rosy edrive forecast as it battles Melrose bid

GKN issues rosy edrive forecast as it battles Melrose bid

GKN has issued a robust estimate of future edrive sales as it fights Melrose bid GKN is forecasting sales growth from GBP33m (US$46m) to GBP500m by 2022 as it looks to battle a bid from manufacturing investor, Melrose. The GKN board has "unanimously rejected" the Melrose attempt to secure control of the British supplier, insisting the bid is "entirely opportunistic" with its optimistic forecast today (22 January) providing it with ammunition to ward off the approach. Part of this optimism comes from GKN’s introduction of electric driveline technologies, while also investing GBP36m in R&D. GKN Driveline’s order book for […]