PKC Group Plc Company Announcement 9 February 2017 8.20 a.m.
PKC's strategy advances
PKC's strategy to expand in Asia and rolling stock business advances. PKC is currently negotiating on the establishment of a joint venture with estimated annual revenue of over EUR 40 million with a Chinese wiring systems manufacturer. Parties have signed a letter of intent and the negotiations are estimated to be completed during Q2. PKC plans to expand into North American rolling stock market by acquiring a company operating in the rolling stock business in the USA with estimated annual revenue of about EUR 10 million. Parties have signed a letter of intent and the negotiations are estimated to be completed during Q2.
PKC Group Plc
Board of Directors
Matti Hyytiäinen
President & CEO
For additional information, contact:
Matti Hyytiäinen, President & CEO, tel. +358 (0)400 710 968
Distribution
Nasdaq Helsinki
Main media
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, Finland, Germany, Lithuania, Mexico, Poland, Russia, Serbia and the USA. The Group's revenue from continuing operations in 2016 totalled EUR 846 million. PKC Group Plc is listed on Nasdaq Helsinki.