GKN Driveline has acquired full ownership of Velcon in Celaya, Mexico – formerly a joint venture company formed by GKN in 1979 with Grupo DESC, one of Mexico’s largest industrial companies.
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GKN has held a 49% share in the joint venture since it was established in 1979.
With forging, machining and assembly operations employing 623 people, Velcon produced more than one million side shaft vehicle sets last year for DaimlerChrysler, Ford, General Motors, Renault-Nissan and Volkswagen, as well as for the automotive aftermarket.
The new GKN Driveline operating unit will be called GKN Driveline Celaya.
