| History |
GKN Driveshafts (India) Ltd, previously known as GKN Invel Transmissions, was promoted by GKN Automotive, Germany, with equity participation from International Finance Corporation, Washington, in Jul.'85, and went public in Jun.'86. Commercial production commenced in Apr.'89. The company has a collaboration with Uni-Cardan Invel, Germany, a company belonging to GKN Automotive which also holds a 51% equity stake. It manufactures and markets constant-velocity drive shafts which form an essential part of the front wheel drive of motor vehicles because they provide constant velocity and torque. Its principal customers are Maruti Udyog and Bajaj Tempo.
In 1994-95, it acquired Sriram Mobiles, Madras. During 1996, GDIL received ISO 9002 certification for the Faridabad works and the corporate office. It also promoted a new company viz. Drivetech Accessories which became its subsidiary in Apr.'96.
In May, 1998, the company has been awarded the QS 9000 certification for all its location which is a prerequisite for being suppliers to international OE manufacturers. The company has also embarked upon a major project for implementation of an ERP software (BPCS) for achieving integration of its operations across all facalities.
During 2000, the company received Best Vendor Award from Maruti Udyog Ltd and an Award for Outstanding Performance in Delivery from Honda Siel Cars India Ltd. In 2002,GKN Automotive GmBH,(Germany) the promoter company has acquired 3,978,652 equity shares consisting 31.148% of GKN Driveshafts(India) Ltd and subsequent to this the shareholding of promoter was increased to 96.241%. The company has changed the name of all the companies in Driveshafts division at a global level to a new name i.e. 'GKN Driveline (India) Limited' in the year 2003.
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