Magnetics Business & Technology - May/June 2024 - 32

INDUSTRY NEWS
GKN Powder Metallurgy Gets New CEO & Builds Its Magnet Business Signing Schaeffler as
Key Customer in Automotive Electrification
The deal is seen as particularly significant given Schaeffler's
since-announced plans to establish a new automotive manufacturing
plant in North America while also forging a merger of
automotive top-tier powertrain supplier Vitesco Technologies
into Schaeffler. Focused on e-mobility products, the new plant
in Dover, Ohio was announced in February. Schaeffler currently
has 15 plants in the Americas region and five research
and development locations. The planned merger with Vitesco
was announced in March and is expected to be completed by
year-end.
New volume magnet production plant starts up this year in Germany
for GKN Powder Metallurgy, with plans to expand next into North
America.
Dowlais Group Plc, the recently
established parent company of GKN
Powder Metallurgy, has appointed
Jean-Marc Durbuis as the new chief
executive officer of GKN Powder
Metallurgy. He joined the company
in March from Allnex, a supplier of
resins and additives to the coating
and inks industry where he was
executive vice president of one of
its global divisions with revenues
of over €1 billion. Already a leading
supplier of powder metal materials
and sintered metal components,
GKN PM lately has been expanding
With multiple manufacturing plants for motion technologies worldwide
and plans to absorb powertrain manufacturer Vitesco Technologies,
Schaeffler AG of Germany is positioned to purchase a lot of
magnets.
Jean-Marc Durbuis joins
GKN Powder Metallurgy
as new CEO
aggressively into magnet manufacturing to broaden its portfolio
for the electric vehicle market.
Last year, Dowlais demerged GKN Automotive and GKN
Powder Metallurgy from Melrose Industries and launched GKN
Hydrogen to create a new publicly held enterprise focused on
electrification opportunities in the automotive industry including
an intention to accelerate growth with a merger and acquisition
strategy. Durbuis replaces longtime former CEO Diego Laurent
who has stepped down from the role after 31 years with the
company. The hydrogen unit specializes in metal hydride storage
solutions.
As earlier reported in Magnetics Magazine, the company recently
announced its expansion into permanent magnets, planning
to build production facilities in Europe and North America
with a capacity of up to 4,000 tons annually.
In October, it announced its first major customer for the new
magnet production lines - Schaeffler AG, a motion technology
company and top automotive supplier. The two companies
signed a memorandum of understanding for GKN PM to supply
Schaeffler locally with permanent magnets.
32 Magnetics Business & Technology * May/June 2024
" We are delighted to partner with Schaeffler to jointly provide
solutions to the challenges of supplying permanent magnets
to the automotive and other industries, " said Diego Laurent,
former CEO of GKN PM when the deal was announced. " This is
a perfect match of two companies with a long-standing relationship
and a strong commitment to sustainability and innovation.
The development of permanent magnets for EVs is a logical
step for GKN Powder Metallurgy. "
Matthias Zink, CEO Automotive
Technologies at Schaeffler,
commented: " Schaeffler has key
strengths in passenger car electrification,
particularly in electric
motors, which are integral components
of all electric axles and hybrid
modules. To ensure our successful
growth in this segment especially
in Europe and North America we
aim to establish resilient, local, and
sustainable supply chains for the
relevant components like permanent
magnets. This cooperation with GKN
Powder Metallurgy is an important
Matthias Zink, CEO
Automotive Technologies
at Schaeffler
step towards this goal. " In February, Zink was re-appointed by
the Schaeffler board to serve in his position another five years.
For more info, see www.gknpm.com and www.schaeffler.com.
www.MagneticsMag.com
http://www.schaeffler.com http://www.gknpm.com http://www.MagneticsMag.com

Magnetics Business & Technology - May/June 2024

Table of Contents for the Digital Edition of Magnetics Business & Technology - May/June 2024

Contents
Magnetics Business & Technology - May/June 2024 - Cover1
Magnetics Business & Technology - May/June 2024 - Cover2
Magnetics Business & Technology - May/June 2024 - Contents
Magnetics Business & Technology - May/June 2024 - 4
Magnetics Business & Technology - May/June 2024 - 5
Magnetics Business & Technology - May/June 2024 - 6
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Magnetics Business & Technology - May/June 2024 - Cover3
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