Melrose, an investment company, completed the demerger of GKN Automotive, a multinational manufacturer of driveline components, and GKN Powder Metallurgy, an engineering solutions provider, shaping powder metal into high performance and high precision components. Financial terms were not disclosed. “We are very happy to complete today the demerger of Dowlais. We thank shareholders for their support. We are confident that Dowlais will have a very successful independent future led by Liam and his team. It has been a pleasure to be involved in the improvement of the Dowlais businesses. For Melrose, the focus is now on the continued development of the Aerospace business which over the next few years has the opportunity to clearly establish itself as a leading focussed aerospace business making £1bn of EBITDA," Simon Peckham, Melrose CEO.