GKN-POWDER-METALLURGY
The Schaeffler Group, a leading global supplier to the automotive and industrial sectors, and GKN Powder Metallurgy, the world’s leading provider of metal powder solutions, today announce their joint commitment to advance the development of the permanent magnet industry in Europe and North America through a memorandum of understanding. GKN Powder Metallurgy will supply Schaeffler locally with permanent magnets with the aim to ensure a stable, local supply whilst improving sustainability and transparency in the supply chain.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231017224299/en/
From 2024, GKN Powder Metallurgy will operate a first volume magnet production in Germany (Photo: GKN Powder Metallurgy)
Diego Laurent, CEO of GKN Powder Metallurgy, said: “We are delighted to partner with Schaeffler to jointly provide solutions to the challenges of supplying permanent magnets to the automotive and other industries. 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, as we continue to expand our capabilities to support the needs for electrification in the industry whilst pursuing ambitious sustainability targets.”
Matthias Zink, CEO Automotive Technologies at Schaeffler, comments: “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 step towards this goal.”
About GKN Powder Metallurgy
GKN Powder Metallurgy solves complex challenges in automotive and industrial markets with sustainable and innovative solutions through best-in-class powder metallurgy technology. The company is a world-class provider of powder metal materials, components, applications, and electrification solutions through its three business units GKN Powders/Hoeganaes, GKN Sinter Metals and GKN Additive. GKN Powder Metallurgy is committed to sustainable goals by providing leading powder metal expertise, innovative engineering, and extensive process experience to transform ideas into production. The company recently announced its expansion into permanent magnets, with the intention to build production facilities in Europe and North America with a capacity of up to 4,000 tons. GKN Powder Metallurgy is part of Dowlais Group plc and empowers more than 5,000 innovative thinkers in 27 locations, setting its global engineering network at the highest standard.
For further information regarding GKN PM's capabilities in the permanent magnets for EV market, visit www.gknpm.com/en/solutions/permanent-magnets
About Schaeffler AG
Schaeffler Group – We pioneer motion
The Schaeffler Group has been driving forward groundbreaking inventions and developments in the field of motion technology for over 75 years. With innovative technologies, products, and services for electric mobility, CO₂-efficient drives, chassis solutions, Industry 4.0, digitalization, and renewable energies, the company is a reliable partner for making motion more efficient, intelligent, and sustainable – over the entire life cycle. The motion technology company manufactures high-precision components and systems for drive train and chassis applications as well as rolling and plain bearing solutions for a large number of industrial applications. The Schaeffler Group generated sales of EUR 15.8 billion in 2022. With around 84,000 employees, the Schaeffler Group is one of the world’s largest family-owned companies. With more than 1,250 patent applications in 2022, Schaeffler is Germany’s fourth most innovative company according to the DPMA (German Patent and Trademark Office).
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20231017224299/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Perma-Pipe International Holdings, Inc. Announces First Quarter Fiscal 2025 Financial Results13.6.2025 15:14:00 CEST | Press release
The Company generated net sales of $46.7 million compared to $34.3 million in the first quarter of 2024Income before income taxes of $7.4 million versus $2.6 million in the first quarter of 2024Backlog of $131.1 million at April 30, 2025, compared to $63.1 million at April 30, 2024 Perma-Pipe International Holdings, Inc. (NASDAQ: PPIH) announced today financial results for the first quarter ended April 30, 2025. “Sales for the first quarter were $46.7 million, resulting in an increase of $12.4 million, or 36.2%, compared to $34.3 million in the same quarter last year. Net income attributable to common stock of $5.0 million was an increase of $3.6 million, or 243%, compared to $1.4 million in the first quarter of the prior year,” noted President and CEO Saleh Sagr. Backlog currently stands at $131.1 million, a decrease of $7.0 million, compared to $138.1 million at January 31, 2025. However, the Company has experienced a significant increase in backlog of $68.0 million, or 108%, compare
Capcom’s Devil May Cry 5 Sales Top 10 Million Units!13.6.2025 15:00:00 CEST | Press release
– Capcom further enhances global brand awareness with its Single Content Multiple Usage strategy – Capcom Co., Ltd. (TOKYO:9697) today announced that worldwide cumulative sales of Devil May Cry 5 havesurpassed 10 million units. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250613788747/en/ Devil May Cry 5 logo In Devil May Cry 5, players can enjoy thrilling, high-speed gameplay, stylish action, and beautiful graphics, depicted with intricate realism thanks to Capcom’s proprietary RE ENGINE. The title has garnered strong support from users due to its exceptional gameplay experience, leading to expanded sales as a catalog title since its release. Capcom provided an even more advanced story and action elements in the game with the addition of a new playable character, and more recently, on April 3, 2025, the company released the new Devil May Cry animated series on Netflix, in line with the company’s Single Content Multiple Us
realme Summer Party: a Major Event and an Exclusive Collaboration with TikTok13.6.2025 14:59:00 CEST | Press release
realme, one of the world's leading smartphone brands, held a summer festival on June 6 and 7 at the foot of the Eiffel Tower with fun activities. Visitors could try their hand at ring throwing, immortalize their moments at the Photobooth van, or leave with exclusive gifts. Each participant received a voucher to exchange for a prize in the dedicated area for a successful festive experience. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250612984325/en/ Live photo from realme Summer Party and the newly launched GT 7 Dream Edition A festive event at the foot of the Eiffel Tower The event was a great success, thanks to the engagement of participants on-site and through social media. Many visitors shared photos and videos, creating a dynamic and friendly atmosphere, amplified by the realme community. An exclusive collaboration between realme and TikTok This collaboration between realme and TikTok extends beyond this event. Indee
Take It Slow: Why Ireland Is the Perfect Destination for the ‘Unrushed’ Traveller13.6.2025 14:30:00 CEST | Press release
Tourism Ireland--In a world that’s always rushing, Ireland is extending a gentle invitation: take your time. With its winding coastal trails, soul-soothing landscapes, and deep-rooted traditions, Ireland is emerging as one of Europe’s most natural fits for slow tourism — a growing global travel trend focused on deeper, more meaningful experiences over fast-paced itineraries. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250612345730/en/ Cycling on greenway, County Waterford From misty mornings in the Burren to long afternoons along the Wild Atlantic Way, Ireland rewards those who slow down. Whether it’s connecting with local craftspeople, foraging along the coast, lingering over storytelling sessions in a pub, or staying in family-run farmhouses — the country’s charm reveals itself not in a rush, but in the details. What is ‘Slow Tourism’? Slow tourism encourages travellers to engage more fully with a destination, spending
Technology Reply earns Oracle Service Expertise in Artificial Intelligence for the Western Europe region13.6.2025 10:00:00 CEST | Press release
Technology Reply, a company of the Reply Group specialising in the design of solutions based on Oracle technologies, has been presented with the Oracle Service Expertise in Artificial Intelligence for the Western Europe region, further consolidating its position as a key partner for AI projects on Oracle Cloud Infrastructure (OCI). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250613439196/en/ Thanks to this certification, Technology Reply strengthens its role as a technology partner for companies seeking to enhance their enterprise applications, improve user interaction, and accelerate decision-making processes through artificial intelligence and Oracle technologies. The Service Expertise certification is in recognition of Technology Reply’s technical and design capabilities in building solutions based on OCI’s AI services, including the use of pre-trained models, chatbot development, custom model creation, and the adoptio
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom