GKN plc of the UK and Toyoda Machine Works Limited (TMW) of Japan completed the formation of two new joint ventures in Thailand. The joint ventures will manufacture and supply driveshafts for a new vehicle for Toyota in Thailand, which is due to commence production in August 2004. The formation of these joint ventures is part of GKN's continued strategy of developing its manufacturing capability in countries having low manufacturing costs and strengthening its close relationship with Toyota and TMW.