1
                                                                    EXHIBIT 99.1


                            FOR IMMEDIATE RELEASE


Contact:

Bob Marese
Mackenzie Partners, Inc.
212-929-5500


                   GKN ANNOUNCES COMPLETION OF ACQUISITION

                         OF THE INTERLAKE CORPORATION


        London and New York, February 11, 1999 -- GKN plc (LSE: GKN) today
announced that it has completed the merger of its wholly owned subsidiary, GKN
North America Manufacturing Inc., with The Interlake Corporation. Interlake is
now a wholly owned subsidiary of GKN.

The acquisition cost of Interlake was approximately $553 million (335 million
pounds sterling) including the assumption of about $292 million (177 million
pounds sterling) of debt. The consideration for the equity was paid in cash.

Interlake comprises three businesses, all leaders in their respective markets.
The Hoeganaes Corporation is the leading supplier of ferrous powdered metals in
North America, the main material used by GKN Sinter Metals. Chem-tronics Inc
is the leading US producer of advanced, lightweight structural components for
aerospace engines in the civil, military and space markets and has a strong
position in the aftermarket for engine fan blade repair. Interlake Material
Handling is the leader in the pallet and container racking, dynamic storage and
conveyor system markets in the US and produces a range of storage systems for
use in distribution centers, warehouses and retail facilities.

The acquisition is an important strategic move for GKN, a global manufacturer
of automotive and aerospace products and a provider of industrial services,
with 1997 revenues exceeding $5.4 billion.