GKN Sale Announcement Shocks County
by Bruce Whitman
GKN Sinter Metals made it official last week when it issued a news release stating the holdings are up for sale.
GKN operates two plants in Emporium and a third in nearby Kersey, Elk County.
GKN PLC went public with a statement that it seeks to unload GKN Powder Metallurgy which is made up of GKN Sinter Metals, Hoeganaes and several smaller holdings.
GKN is Cameroon County’s largest employer and produces products for the automotive and aerospace industry.
Apparently, GKN went public after a $10 billion take-over bid by Melrose PLC surfaced in January.
The world-wide operations of GKN, a British multinational firm, reportedly generated $8.822 billion in business in 2016.