PKC Group Plc Press release 10 August 2016 8.10 am
PKC Group has been awarded major rolling stock contract with total value up to EUR 200 million
PKC Group has won new rolling stock business contracts from Bombardier Transportation (BT) following the recently signed global partnership agreement in the amount of approximately EUR 50 million as fixed orders and approximately an additional EUR 150 million as options.
The business contracts comprise electrical cabinets to a BT’s customer in Central Europe and includes long-term deliveries until late 2020’s subject to realization of the options. The deliveries may include up to 17 different types of electrical cabinets per double-decker intercity train. The deliveries to this contract will commence immediately and will continue with the fixed portion of the contract until year 2019.
In addition, PKC Group has been awarded by BT a first contract to enter the UK railway market which is expected to grow strongly in the coming years.
The value of the first UK contract is estimated to be maximum EUR 5 million. Deliveries are expected to begin already during the remainder of the year and continue until 2019.
Andre Gerstner (President, PKC Rolling Stock Business):
We are proud in supporting BT in the execution of this strategic contract in Central Europe, making it for us potentially the biggest single order ever in the Rolling Stock business. And through our first contract signed with BT UK we are getting access to one of the strongest growing railway markets in Europe opening us opportunities for future organic growth. These new contracts are milestones in the development of our partnership with Bombardier Transportation.
PKC Group Plc
Matti Hyytiäinen
President & CEO
For additional information, contact:
Matti Hyytiäinen, President & CEO, PKC Group Plc, +358 400 710 968
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Nasdaq Helsinki
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www.pkcgroup.com
PKC Group is a global partner, designing, manufacturing and integrating electrical distribution systems, electronics and related architecture components for the commercial vehicle industry, rolling stock manufacturers and other selected segments. The Group has production facilities in Brazil, China, Estonia, Finland, Germany, Lithuania, Mexico, Poland, Russia, Serbia and the USA. The Group's revenue from continuing operations in 2015 totalled EUR 847 million. PKC Group Plc is listed on Nasdaq Helsinki.