Land Systems, which will focus on power management, will seek to take advantage of improvements seen in its mining, agricultural and construction markets alongside newer sectors, Andy Reynolds-Smith, head of the new division, told reporters.

“We’re taking a close look at some new and very attractive long-term markets such as rail, especially the high-speed sector, wind power, in particular UK offshore, and also military vehicles which are getting more and more demanding in terms of technology.”

GKN is best known for its airframes, engine structures and parts for planemakers such as Airbus and Boeing.

Reynolds Smith said the division – which comprises its off-road, autostructures and industrial and distribution services units – would be looking to take on more people in Britain, where it now employs around 800-900 staff.

The division, which has about 5,000 staff worldwide, is planning to double revenues to £1.5bn over the next five years and will achieve this via a mixture of organic growth and acquisitions, Reynolds-Smith added.