PKC Group Plc Company Announcement 14.2.2013 08:16 a.m.
PKC PUTS EMPHASIS ON ASIA, PRESIDENT & CEO TO RELOCATE TO HONG KONG
PKC Group Plc’s President & CEO Matti Hyytiäinen shall relocate to newly established subsidiary in Hong Kong on an interim basis in order to further grow Group’s business in Asia and China. It is of upmost importance to PKC’s Wiring Systems business that PKC puts emphasis on Asian and Chinese market and this has been set as one of Group’s strategic targets.
Asia, especially China, is the world’s largest commercial vehicle market that is forecast to continue to grow significantly. PKC’s current global customers have actively focused their growth into these markets by e.g. forming joint ventures with the leading Chinese and other Asian truck manufacturers. In addition to market growth, Asian commercial vehicle markets are subject to a structural change, whose drivers are new emission standards and customers’ need for uniquely optimised vehicles. As a result of the structural change, the technological contents of commercial vehicles increases and diversifies and also the wiring systems solutions become significantly more complex.
PKC’s core competence is to be able to mass produce high quality uniquely tailored products with infinite variants with very fast turnaround time. PKC foresees demand for its expertise when Western truck manufacturers operating in Asia and leading Asian and Chinese truck manufacturers adapt their strategies to respond to market growth, structural change and future needs. We estimate that PKC has excellent competitive position to expand its business in Asia to current customers and the leading Asian and Chinese truck manufacturers.
”It is pivotal for the global success and growth of PKC’s Wiring Systems business that the Asian and Chinese truck markets receive the undivided attention of the highest management. The most important reason for my relocation is to form personal relationships with Asian and Chinese truck manufacturers, decision-makers and other companies in the field in order to form better understanding on their plans and needs. PKC is the leading wiring systems manufacturer in the truck industry and technology leader and we believe we can offer truck manufacturers operating in Asia and China solutions that improve their competitiveness,” states Matti Hyytiäinen.
PKC Group Plc
Board of Directors
Matti Hyytiäinen
President & CEO
For additional information, contact:
Matti Hyytiäinen, President & CEO, PKC Group Plc, +358 400 710 968
DISTRIBUTION
NASDAQ OMX
Main media
www.pkcgroup.com
The PKC Group offers design and contract manufacturing services for wiring systems and electronics. The Group has production facilities in Brazil, China, Estonia, Finland, Germany, Ireland, Mexico, Poland, Russia, Ukraine and the USA. The Group's net sales in 2012 totalled EUR 928.2 million. PKC Group Plc is listed on NASDAQ OMX Helsinki Ltd.