Melrose Industries Share Discussion Threads

[jackdaw4243] 26/6/2019 16:48

Thank you looking forward to it but sadly missing an opportunity to put questions to our next P M as they are in Hampshire this weekend.
Venue to be disclosed 48 hrs before meeting. I suppose they are not expecting a huge turnout from the Isle of Wight.

[gettingrichslow] 26/6/2019 16:47

Try having a night out in Chester, then have the following night out in Wrexham just down the road. I did that in 1989 and I'm still recovering from the shock of the second night. It was like a war zone.

[brexitplus] 26/6/2019 16:34

No, Chester is in England. Enjoy Chester, interesting place. But take your passport in case you accidentally stray into north Wales.

[jackdaw4243] 26/6/2019 16:30

BP

I'm taking Mrs Jackdaw for a short break tomorrow for a few days to a place called Chester, is that classed as "Bandit Country".

[brexitplus] 25/6/2019 05:57

Getting, it’s probably a personality disorder.

“Strange, outlandish or paranoid beliefs and thoughts are common. People with schizotypal personality disorder have difficulties forming relationships and experience extreme anxiety in social situations. They may react inappropriately or not react at all during a conversation or they may talk to themselves.”

Explains living out in ‘bandit country.’

[gettingrichslow] 24/6/2019 19:35

Good god, someone call nurse, Meanwhile is talking to himself again.

[meanwhile] 24/6/2019 08:43

I agree, ryelodge, but, if the rumours of the Directors having already spent their bonuses is true, they'll be looking to maximise the next one.

[ryelodge] 24/6/2019 08:27

The Citi price target of 220p is 10% below the entry value for MRO shareholders who came in with the GKN acquisition. Unfortunately they , unlike Fund Managers, can't just mark- to- market at the current price of 170+ and view 220p favourably. And particularly when a price of 232p gave each of the executive directors a £42 million LTIP payout.

[brexitplus] 24/6/2019 06:21

I missed this back in May. How remiss of me.

“How is GKN's automotive division organized now under your new owner, Melrose Industries?

We have 29,000 people in GKN Automotive working on a portfolio of technologies including CVJs (constant velocity joints), propshafts and sideshafts, and all-wheel-drive systems, both conventional and electrified. There are 54 manufacturing locations worldwide. We provide equipment for the entire range of cars, from small, low-cost A-segment vehicles [minicars] to sophisticated premium vehicles with complex driving dynamics. We make complete e-drive systems, but we also offer final-drive units, power-transfer units and drive modules with couplings and disconnects. In addition, we have a dedicated hybrid transmission that we call Multimode. It's in the Mitsubishi Outlander plug-in hybrid. That is as far as hardware is concerned. But what is even more important today is that we can provide the full software controls for the vehicle integration.

A lot of suppliers are becoming experts in software. What does GKN's software control?

First, it has to take care of the functionality of an all-wheel-drive system, which is not just distributing the torque to the different wheels. We are trying to drive efficiency and reduce CO2 emissions, so that means all-wheel drive on demand. And you also have to connect or disconnect it depending on many parameters. We are cooperating with automakers because the driving dynamics of the car are heavily influenced by us, as providers of the mechanical system for all-wheel drive. For example, the "drift mode" in the Ford Focus RS was developed by us in cooperation with Ford.

Has the switch in ownership to Melrose Industries affected your business or r&d strategy?

Not really. Melrose aims to bring clarity, accountability and focus to all of GKN's business, and I think that's a good thing. That should be the driver for any business.

Within the ePowertrain unit, what is the split between conventional all-wheel-drive systems and electric-drive systems?

Our total turnover in all-wheel and electric drive is 1.3 billion euros in sales. Electric-drive systems are a smaller part of that, but it will grow rapidly. Within the last year, we have seen a 50 percent increase in the value of our e-drive order book, from 2 billion euros (about $2.25 billion) at the end of 2018 to 3 billion euros (about $3.4 billion) now. We are predicting that the market for all-wheel-drive products will grow at a low rate until 2030. We are aware that in the long term, our conventional systems will be replaced by electric all-wheel-drive systems, namely the P4 e-axle [where the electric motor is integrated at the axle].

Regarding the P4 all-wheel-drive systems, we are now seeing electric motors independent of the engine, but are they sufficient for heavy-duty uses such as rough terrain or pulling a trailer?

We need to do some more development work. But with different ranges of torque and electric motor power, it shouldn't be an issue to pull a boat from the water, for example, or climb a hill. You will also need a two-speed gearbox with a low range and a high range for normal roads. We have also done some simulation studies that combine an electric driveline with conventional all-wheel drive -- instead of an internal combustion engine, you have a big electric motor. Then you have a propshaft to the rear with a conventional all-wheel-drive system. That's one possible future for the U.S. light-duty [pickup] market.

Electrification encompasses a wide range, from mild hybrid systems all the way up to full-electric vehicles. Are you focusing on a specific area?

Our focus is definitely on P4 solutions. Our EDUs [electric-drive units], work with battery-electric or fuel cell vehicles or plug-in and conventional hybrids. We try to standardize as much as possible, so we have product families to meet all the requirements for different segments.

How does your customer base break down by region, and where are you forecasting growth?

We are well-distributed in the main regions -- Europe, the Americas and Asia -- but again, we don't expect huge growth in the conventional all-wheel-drive business. However, we see big growth in electric drive in Europe and Asia. Our market forecasts are for 110 million vehicles produced globally in 2030, with 20 percent electric vehicles, including fuel cells; 10 percent plug-in or high-voltage hybrids; and 30 percent mild hybrids. That still leaves 40 percent internal combustion engines.

What innovations are you most excited about?

What we are excited about is torque vectoring [in which the differential varies the torque supplied to each wheel]. Conventional cars and electric vehicles are becoming heavier, but customers still expect a high level of safety and driving dynamics. Torque vectoring is key to this. Another point is that we need to be cost competitive, and that is also driving innovations in manufacturing and materials. Design to cost is what we need to do, and that means working with manufacturing engineering and logistics.

[gettingrichslow] 23/6/2019 21:50

Thanks Meanwhile. Can you do one of your 'hvs' posts please? They were really funny posts.

[meanwhile] 23/6/2019 21:47

gettingdownhillfast,

Getting to know you, Getting to know all about you.
Getting to like you, Getting to hope you like me.
Getting to know you, Putting it my way, But nicely,
You are precisely, My cup of tea.

Yes, getting, you are precisely my cup of tea.

[gettingrichslow] 23/6/2019 20:07

Funny you should say that Porky because I was just thinking how well it's been going over the last few years in particular. The Gettingrichslow portfolio is flourishing. Just banked my LTIP from 2015/16 - 2018/19. Bonus looking good too for 18th year in a row. Another LTIP due next year. Pension is full up. Life is good!

[minerve 2] 23/6/2019 19:49

Gettingmadquickly

Yes, funny! LOL

I think 'gettingrichslow' is so apt though. He obviously knows his true capability. It is so slow mathematical error could mistake it for net-worth erosion, and I guess it is when you consider it against inflation.

ROFLMAO!

[gettingrichslow] 23/6/2019 19:29

Meanwhile, well done for remembering Ratoils' password! Remember you're absolutely disgusted by the scale of the Directors' bonuses so presumably you won't be wanting to be any part of any further profiteering? Can you also clarify Ryelodge's views on this too?

[meanwhile] 23/6/2019 18:29

Sliotar,

Please don't give up on this site.
It is indeed dull at present with only these lengthy but useless company updates and bulletins from brexitplus, the man known widely as 'The Cotswold Sage', for obvious reasons. And these bulletins supported by his primary stooge 'getting'
and occasionally the old seadog, yertiz, as secondary stooge.

The site will liven up when MRO shares themselves liven, by Melrose selling a large division at a good price. We will then see the astute followers return, wallet photos appear, stuffed and bulging, and a balanced view from the only sensible regular poster apart from myself, Minerve.

Hang on for that.

[sliotar] 22/6/2019 12:48

Ni hao,laizi beijing Mr Gettingmadquickly. This chap needs to calm down, the site just isn't worth it.

[minerve 2] 21/6/2019 11:09

Who is to say you are not the same cretin as Yertiz, Brexit et al?

LOL

[gettingrichslow] 21/6/2019 10:40

So a new poster signs up to ADVFN, posts 4 messages about how unhelpful a discussion board is, then declares he's off to Beijing!!

And we're expected to think that's not yet another one of Meanwhile's characters??

[minerve 2] 21/6/2019 08:41

Sliotar

You are absolutely right, it is sad. Good luck.

Unfortunately, after 20 years, ADVFN is my chronic illness.

Have a safe flight. ;)

[meanwhile] 21/6/2019 07:57

getting suffers a further relapse into his 'Fregoli delusion'.

Any word he sees against him and he concludes it is Meanwhile or Minerve, posing as others.

getting, my advice to you is if your delusions ever involve a dog, seek immediate medical advice.

[brexitplus] 21/6/2019 07:56

Getting, Meanlodge, the poor old sod is so desperate for company he posts to himself in his Walter Mitty world.

[ianood] 21/6/2019 07:49

Silotar - I have to say that it is a bit akin to "Deliverance" on here :)

[sliotar] 21/6/2019 07:45

I'm just boarding a flight to Beijing, but to finish my involvement, this nonsense is yet another example of why I concluded that this site is not fit for purpose. Who in the world has got time for this?

[gettingrichslow] 21/6/2019 07:29

I think Meanwhile has forgotten his new password for Sliotar! He knows he wrote it down somewhere but can't find it anywhere!