GKN supplies airframe structures and engine components for aerospace and defence companies including Airbus and Rolls-Royce and parts like driveline systems to Volkswagen and other major carmakers.
Here is a timeline of GKN, which was founded by merchants and iron-masters 263 years ago in a village in South Wales.
September 1759
GKN's predecessor, Dowlais Ironworks Co, was founded by Thomas Lewis in Dowlais, near Merthyr Tydfil
April 1767
Dowlais' association with the Guests, a prominent British business family, begins as coal merchant John Guest appointed works manager of the business
1807
Guest's grandson Sir Josiah John Guest takes over the running of the company
April 1848
GKN survives arguably its closest shave with liquidation, as a looming lease expiry whose terms threatened to make Dowlais Ironworks' operations unviable was replaced with a new favourable agreement barely 10 days before the lease expiry
1856
Dowlais becomes the first British company to acquire licence to produce steel using the Bessemer process, the first inexpensive process for mass production of steel from molten pig iron
July 1900
Dowlais combines with Patent Nut & Bolt Company (PNB) to form Guest, Keen & Co
1902
Group acquires Nettlefolds Ltd and the enlarged company became Guest, Keen & Nettlefolds
1951
Britain's Labour government begins nationalising the steel industry, shortly after GKN emerged from the Second World War as the country's biggest steel producer
1960s
The government of Harold Wilson furthers nationalisation policies, leading GKN into a gradual withdrawal from the steel industry over the next two decades and encouraging it to explore new business avenues
1966
As part of GKN's move to expand in the automotive sector, Chairman Raymond Brookes buys the Birfield automotive components group
Late 1980s
Guest, Keen and Nettlefolds officially changes name to GKN Plc, and in 1988 acquires stake in British helicopter and aerospace manufacturer Westland Plc
September 2012
Group secures approval to purchase Volvo's aerospace unit for $1.01 billion
July 2015
GKN agrees to acquire the Netherlands-based Fokker Technologies for $781 million
October 2017
GKN reportedly considers splitting into two listed companies
November 2017
GKN CEO Kevin Cummings steps down after just two months at the helm after its aerospace division took a large writedown
January 2018
Melrose makes takeover offer for GKN, which company rejects
March 2018
As bid battle for GKN heats up, Melrose and U.S. firm Dana Inc sweeten proposals
March 2018
Melrose narrowly clinched an $11 billion takeover of GKN after a tough three-month battle for control of the company
2020
Melrose forced to restructure aerospace division and cut jobs, as operations took a hit from the coronavirus crisis
2021
Chip shortage hits automotive supply chain hard even as sales bounce back from pandemic lows on recovery in demand for cars and powder metals
September 2022
Melrose says it would separate its GKN Automotive and GKN Powder Metallurgy units and list them as a separate independent business
(SOURCES: Company's website and statements, Reuters reporting)
(Reporting by Muhammed Husain in Bengaluru; Editing by Maju Samuel)