GKN buys Williams Hybrid Power for £8m

Williams Grand Prix Engineering has sold its Hybrid Power division to GKN for approximately £8million.

Established in 2008, Williams Hybrid Power specialises in the design and manufacture of composite flywheel-based energy storage systems for the automotive sector.

GKN has been working with the Oxfordshire-based company for several years to validate the use of the technology, and says it now plans to "maximise the commercial opportunities that exist" for it. The company will be rebranded as GKN Hybrid Power.

Phil Swash, chief executive of GKN Land Systems, said: "This acquisition is a great opportunity for GKN to take a unique technology to global markets, helping solve the emissions and efficiency challenges faced by mass transit companies around the world.

"It also provides GKN with a unique set of engineering skills that we believe will help bring new innovation and performance to our wider product portfolio."

Author
Laura Hopperton

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