Melrose Industries Share Discussion Threads

[jackdaw4243] 28/6/2019 10:41

Chester has a lot going for it, possibly because Goering,s aircraft didn't reach it.

[minerve 2] 27/6/2019 23:42

Don’t hold your breath.

[meanwhile] 27/6/2019 23:21

I nominate brexitplus, 'The Sage', to deal with these questions.

[eipgam] 27/6/2019 19:36

I think the ERG need to do some more research. As do others.

Why does the very slight majority of voters believe and trust politicians who went to Eton? Have they no idea what and how they were taught whilst they were in their formative years? Do they not realise that every last one of them would leave the sinking ship with enough money in the life belts to last the rest of their lives?

And lots of the people left behind will not have enough money to last to the end of the week.

[brexitplus] 27/6/2019 17:26

Sounds great. Much better than my model yacht on the pond when I was a boy!!!

[jackdaw4243] 27/6/2019 08:57

GKN have a large facility here.

a big weekend coming over a thousand boats racing around the Island for fun.

[brexitplus] 27/6/2019 07:23

I have only been to IoW once, to play rugby. We intend to go soon. James Martin cooking programme showed the excellent produce on the island. We do buy IoW garlic.

[jackdaw4243] 26/6/2019 20:18

Plenty of those,

sheep are there to be sheared and the Cowes restaurants are experts.

"You can hardly feel their hand in your pocket"

[gettingrichslow] 26/6/2019 19:30

No, it was the number of fights that broke out all over the town centre! By the way last time I went to Isle of W I definitely had a big bill - nice restaurant in Cowes!

[jackdaw4243] 26/6/2019 19:06

Getting

Was it the bill that gave you the shock ? from the Isle of Wight we are not used to big bills but we can drive a tractor.

[jackdaw4243] 26/6/2019 17:48

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 17:47

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 17:34

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 17:30

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 06:57

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 20:35

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

[meanwhile] 24/6/2019 09:43

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 09:27

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 07:21

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 22:50

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

[meanwhile] 23/6/2019 22:47

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 21:07

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 20:49

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 20:29

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?