GKN.

[old man]

Thoughts please?

[shaun4860]

Further info might help

[Guest stevo]

Don’t they make spark plugs ? 

[arm3000gt]

 

2 minutes ago, shaun4860 said:

Further info might help

Melrose Industries performed a hostile take over of GKN this week. A large part of GKN is/was owned by hedge funds etc which saw the chance to turn a substantial profit and cashed in. As a result one of the longest standing British engineering firms is effectively no more.

https://www.melroseplc.net/

https://www.gkn.com/

 

I suppose like many others that have been bought out by large corporations it will be asset stripped over the next few years. More profitable parts incorporated into existing companies the rest left in GKN for terminal decline and loaded with debt. Without knowing too much about it I suspect (in my cynical view of the world) that is what will happen.

 

[ShootingEgg]

Yet another manufacturer screwed. Anyone who has been on an easyjet flight has been in the air due to GKN. They manufacture the wings and flaps for the aircraft. 

[Retsdon]

The Germans, French, Spanish, and Italians still have their own automotive industries. For short-term profit, we sold ours years ago. We sold the steel industry too. Our utility companies have also mostly been sold to the highest bidder.In fact, from iconic football teams to Rolls Royce cars and household name whiskys, the whole lot's been flogged off to goose the short term profits of City wide boys.

Until now, about the only industry to escape this three decade long fire-sale has been defence manufacturing. But it looks like that's going under the hammer too now.

Betrayal is a hard word, but sometimes you just have to say it as it is.

[kernel gadaffi]

CHEP pallets.

 

[krugerandsmith]

8 hours ago, Retsdon said:

The Germans, French, Spanish, and Italians still have their own automotive industries. For short-term profit, we sold ours years ago. We sold the steel industry too. Our utility companies have also mostly been sold to the highest bidder.In fact, from iconic football teams to Rolls Royce cars and household name whiskys, the whole lot's been flogged off to goose the short term profits of City wide boys.

Until now, about the only industry to escape this three decade long fire-sale has been defence manufacturing. But it looks like that's going under the hammer too now.

Betrayal is a hard word, but sometimes you just have to say it as it is.

I agree. Whats next to go .... Buckingham Palace ... Windsor Castle ... Tower Bridge.    However do lets get rid of that lot in the house Lords and also that lot in the house of commons. 

[Jaymo]

Private Companies being taken over by another Private Company, that’s business people- they are not charities and regardless of what might have been achieved in ‘helping’ to manufacture an Iconic item I’m afraid that it happens.

Would you like to see a ruling whereby only UK based investors can purchase a UK Company? Well that’s going to work splendidly isn’t it- like it or not, Brexit or Not, Burgandy Passports or Blue, we are intrinsically linked to the outside world.

Or, I suppose you could vote Labour and have your dreams of Nationalisation realised at the expense of many....

Tell you what, let’s up tax to 80pence in the pound for everyone and reopen all the mines too, bring back BR and it’s unreliable rolling stock- hey I know, how about some three day working weeks. That will help your Pension ( most likely invested in overseas companies anyway).

Do sometimes wonder to what part of Commerce many people are associated with and demographics too ( yes yes, I must really keep my thoughts and opinions to myself) 

[mick miller]

Nationalisation is already occurring, it's just our nation isn't involved. French, Dutch and German state ownership of our infrastructure helps subsidise theirs. That's one reason why rail is cheaper in the continent. 

[clakk]

Fact of modern life ,when Massey Ferguson was taken over by Yank asset strippers Desford and all its jobs went as did production facilities at Coventry.They are in it to make money ,not jobs for life or keeping it British ,globilisation sucks but it is here to stay

[Mice!]

13 hours ago, Retsdon said:

Until now, about the only industry to escape this three decade long fire-sale has been defence manufacturing. But it looks like that's going under the hammer too now.

Sorry but defence has been getting done by foreign countries for years, we make some parts as do the yanks French Germans the list goes on, plus parts are bought from Asian countries where they are produced at a fraction of the cost and then assembled elsewhere such as UK or USA.

[pinfireman]

6 hours ago, Jaymo said:

Private Companies being taken over by another Private Company, that’s business people- they are not charities and regardless of what might have been achieved in ‘helping’ to manufacture an Iconic item I’m afraid that it happens.

Would you like to see a ruling whereby only UK based investors can purchase a UK Company? Well that’s going to work splendidly isn’t it- like it or not, Brexit or Not, Burgandy Passports or Blue, we are intrinsically linked to the outside world.

Or, I suppose you could vote Labour and have your dreams of Nationalisation realised at the expense of many....

Tell you what, let’s up tax to 80pence in the pound for everyone and reopen all the mines too, bring back BR and it’s unreliable rolling stock- hey I know, how about some three day working weeks. That will help your Pension ( most likely invested in overseas companies anyway).

Do sometimes wonder to what part of Commerce many people are associated with and demographics too ( yes yes, I must really keep my thoughts and opinions to myself) 

This was a Private Company taken over by a Company known for assett stripping! That,s not business, it,s greed! The greedy hedge fund managers who held the majority of voting shares are to blame for this.....watch this company now be dismantled, and profiting a few  greedy *******! A workforce  signing on the dole, and a vital Defence Industry no more, meaning we will have to go abroad to buy our Defence equipment!  What a stupid policy!

[Howling Hound]

GKN pension scheme has a deficit of £1.1 bn. So we can expect the profitable sections of GKN to be hived of, leaving the less profitable runt of the company with this debt. This will then be allowed to go to the wall wiping out this deficit. Good business for some, but not maybe for the GKN pensioners.  

[Jaymo]

7 minutes ago, Howling Hound said:

GKN pension scheme has a deficit of £1.1 bn. So we can expect the profitable sections of GKN to be hived of, leaving the less profitable runt of the company with this debt. This will then be allowed to go to the wall wiping out this deficit. Good business for some, but not maybe for the GKN pensioners.  

So your saying it was mid-managed as a UK consortium and yet others believe it should stay Uk.

Pinfireman, it’s in everyone’s nature to have a bit of ‘greed’ , I must be greedy as I spend £2 per week in the lottery in the hope of making millions.

[TIGHTCHOKE]

You greedy ******!

[Howling Hound]

16 minutes ago, Jaymo said:

So your saying it was mid-managed as a UK consortium and yet others believe it should stay Uk.

Pinfireman, it’s in everyone’s nature to have a bit of ‘greed’ , I must be greedy as I spend £2 per week in the lottery in the hope of making millions.

I'm not saying anything about the rights or wrongs of the takeover. although I do have an affinity with the group as I served my apprenticeship with them any years ago. (one of the best training apprenticeships you could possibly have) What I am saying is that if the deficit can be manoeuvred into a position where it would disappear then no doubt that's the way the accountants will take it.

When that happens guess who will be the losers.

[Jaymo]

HH

Your assessment is most probably correct. But little can be done as most are Shareholder driven and holding their hands out for dividends.

 

Edited March 31, 2018 by Jaymo

[pinfireman]

19 hours ago, Jaymo said:

So your saying it was mid-managed as a UK consortium and yet others believe it should stay Uk.

Pinfireman, it’s in everyone’s nature to have a bit of ‘greed’ , I must be greedy as I spend £2 per week in the lottery in the hope of making millions.

Big difference between a tiny gamble, and assett stripping!

[Jaymo]

1 hour ago, pinfireman said:

Big difference between a tiny gamble, and assett stripping!

Not really, just the stakes they are able to place are greater than mine......

[panoma1]

It will not be long before everything in the UK is owned and managed by foreign interests.......what will that make the population of the UK?........Slaves dependent on foreign masters?

We can thank successive governments for selling us and our country for 30 pieces of silver!

[Jaymo]

How can a Government be held to ‘account’ when these a Private Sector Companies?

Must every single takeover be subject to a Panel of Enquiry and then part of its remit is to weed out any foreign investment? As for every. So called asset striped company, I’m sure you will find many many more that have benefitted from foreign cash injection which otherwise would have gone to the wall.

Let not forget, you can’t have you cake and eat it- we too have large investments in overseas companies my friend

Edited April 1, 2018 by Jaymo

[Yellow Bear]

10 minutes ago, Jaymo said:

Let not forget, you can’t have you cake and eat it-

Apparently you can if you listen to John Mcdonnall

[Jaymo]

1 minute ago, Yellow Bear said:

Apparently you can if you listen to John Mcdonnall

Now that’s a totally different cake, one I suspect is made with a slightly illegal ingredient for it to be palatable.

[old man]

18 minutes ago, panoma1 said:

It will not be long before everything in the UK is owned and managed by foreign interests.......what will that make the population of the UK?........Slaves dependent on foreign masters?

We can thank successive governments for selling us and our country for 30 pieces of silver!

I'm with you here.

The probable difference here is that the likes of Germany would have retained a controlling interest in the name of security but sadly here it's all given away in the lunatic style we seem to adopt?