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The general manager says the investment means the facility in East Cowes, which employs over 1,000 Islanders, will not only be able to survive, but thrive and grow.
GKN operates in 17 countries across Europe, employing around 28,000 people in more than 60 manufacturing facilities.
A British business originally established in 1759, the UK remains home to their global headquarters.
The Aerospace division has a site in East Cowes on the Isle of Wight.