GKN was now focused on a few growth businesses: Driveline, Chep, Cleanaway, Aerospace/Defence and Off-Highway, which had developed from the original Sankey operation. Strategic moves expanded Chep into the potentially vast American market and Driveline into post-communist Eastern Europe. Powder Metallurgy and Sinter Metals were identified as a potential core activity and the company embarked on a rapid expansion through acquisition, mainly in the US, but later in Europe.
The expansion into new areas drew GKN closer to a new Rubicon. Chep, now thriving in the US, was a huge joint venture that GKN did not completely control; the helicopter industry was rapidly consolidating; the aerostructures business needed to stay at the leading edge.
In 2001, an extraordinary few months of hyper-activity re-shaped the business for the 21st century. In a multi-billion pound deal – the biggest in the company’s history – Chep and Cleanaway were de-merged; Westland’s helicopter business was merged into a joint venture with Agusta, owned by the Italian group Finmeccanica. And Boeing’s military aircraft structures plant in St Louis was acquired in a groundbreaking outsourcing deal.
It was the most fundamental re-shaping for a century and focused GKN on four world-leading businesses: Aerospace, Driveline, Powder Metallurgy and Land Systems.