Parts Manufacturer's Profits Rise Despite Tsunami Setback

Summary

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Car and aircraft parts maker GKN lifted half-year profits as it overcame a Pounds 12 million hit to orders caused by the Japanese earthquake and tsunami.

GKN, which makes driveshafts for almost half of all new cars, previously warned it expected serious disruption and knock-on effects from the problems experienced in Japan after the disaster in March. These were most keenly felt in the United States as production there was cut back after component supplies were restricted.

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Parts Manufacturer's Profits Rise Despite Tsunami Setback

In Japan itself, the firm was helped by its being a supplier to Mitsubishi and Nissan, which have plants away from the area dire...

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