Global engineering group GKN has turned to Financial Dynamics for
strategic advice on communications surrounding its complex demerger deal
with Australian B2B industrial services firm Brambles .
FD's appointment is the first time GKN has drafted in outside PR support
in more than eight years.
GKN head of corporate communications Peter Baillie said the two-strong
in-house team had handled financial PR in the past, but felt the
complexities of the deal with Brambles called for external strategic
FD's recently-hired industrial team head Andrew Lorenz, who joined from
The Sunday Times where he was business and industrial editor, leads the
account, reporting to Baillie.
No pitch was staged. Baillie said his decision to appoint FD was in part
due to the fact he has known Lorenz for many years.
FD will work on a remit to provide strategic financial communications
advice, while media relations is handled in-house at GKN.
GKN, which has a market cap of pounds 6bn and is headed by CK Chow, is
demerging its highly profitable industrial services division,
established as a joint venture with Brambles more than 25 years ago.