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PKC Group Oyj (PKC1V.HE)

PKC1V.HE on Helsinki Stock Exchange

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Latest Key Developments (Source: Significant Developments)

PKC strategy to expand in Asia advances
Thursday, 9 Feb 2017 01:20am EST 

PKC Group OYJ : Strategy to expand in Asia and rolling stock business advances . Currently negotiating on establishment of a joint venture with estimated annual revenue of over 40 million euros ($42.72 million) with a Chinese wiring systems manufacturer .Parties have signed a letter of intent and negotiations are estimated to be completed during Q2.  Full Article

PKC Group H2 EBITDA ex-items stable at EUR 31.1 million
Thursday, 9 Feb 2017 01:15am EST 

PKC Group Oyj : H2 revenue 412.6 million euros ($440 million) versus 432.1 million euros year ago . H2 EBITDA ex-items 31.1 million euros versus 30.6 million euros year ago . Estimates that with prevailing exchange rates 2017 revenue and comparable EBITDA will be in same order of magnitude as in 2016 . Estimates that with prevailing exchange rates 2017 revenue and comparable EBITDA will be in same order of magnitude as in 2016. .Dividend proposal is 0.70 euro per share conditional upon Motherson Sumi Systems Limited voluntary public tender offer having not been completed.  Full Article

PKC Group recommends security holders accept MSSL tender offer
Wednesday, 8 Feb 2017 04:10am EST 

PKC Group Oyj : Board decided to recommend that security holders accept offer and tender their securities pursuant to offer made by subsidiary of Motherson Sumi Systems Ltd, MSSL Estonia WH OÜ . Offer price is 23.55 euros ($25.07)in cash for each share . Offer period of offer is expected to run until March 21 . Offeror is to acquire all 24,125,387 shares, and all 457,300 stock options .Entered into combination agreement with Motherson Sumi Systems Ltd on Jan 19 [http://bit.ly/2k1NpiL ].  Full Article

PKC Group: MSSL starts voluntary public tender offer on Feb 6
Friday, 3 Feb 2017 11:10am EST 

PKC Group Oyj : MSSL Estonia WH OÜ commences voluntary recommended public tender offer for all shares and stock options in PKC Group (PKC) on feb. 6, 2017 . Motherson Sumi Systems Limited (MSSL) and PKC on Jan. 19, 2017 entered into combination agreement under which they agree to combine wiring harness businesses of MSSL and PKC .Offer period for the tender offer will commence on Feb. 6, 2017 and expire on March 21, 2017.  Full Article

PKC Group dells PKC Electronics to Enics
Friday, 27 Jan 2017 01:00am EST 

Pkc Group Oyj : Divests PKC Electronics to Enics . Transaction value is approximately net asset value at closing currently estimated to be about 10 million euros ($10.66 million) and which is subject to customary transaction closing adjustments .Divestment has no material impact to company's financial results and is expected to be completed by cash payment during Q1 2017.  Full Article

PKC Group preliminary 2016 EBITDA ex-items rises to EUR 64 mln
Friday, 20 Jan 2017 01:11am EST 

PKC Group Oyj : Reported on Thursday preliminary 2016 revenue of about 846 million euros ($903 million) versus 847.3 million euros in 2015 .2016 EBITDA ex-items to be about 64 million euros against 59.5 million euros in 2015.  Full Article

PKC Group H1 comparable EBITDA from continuing operations rises 15%
Wednesday, 10 Aug 2016 01:15am EDT 

PKC Group Oyj : H1 revenue from continuing operations 433.1 million euros ($483 million) versus 415.2 million euros year ago . H1 comparable EBITDA from continuing operations increased 15.0 pct on comparison period (1-6/2015), totalling 33.3 million euros . Estimates that with prevailing exchange rates 2016 revenue from continuing will be close to previous year level .Outlook for 2016 comparable EBITDA remains unchanged to be higher than previous year level..  Full Article

PKC Group awarded rolling stock contract with total value up to EUR 200 mln
Wednesday, 10 Aug 2016 01:10am EDT 

PKC Group Oyj : Says has been awarded major rolling stock contract with total value up to 200 million euros ($223.02 million) . Days has won new rolling stock business contracts from Bombardier Transportation (BT) following the recently signed global partnership agreement in the amount of about 50 million euros as fixed orders and about an additional 150 million euros as options . Deliveries to this contract will commence immediately and will continue with fixed portion of 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 5 million euros .Deliveries are expected to begin already during the remainder of the year and continue until 2019.  Full Article

PKC Group to lay off up to 1,000 employess in its North American organization
Wednesday, 10 Aug 2016 01:05am EDT 

PKC Group Oyj : Decided to reduce production capacity and to cut fixed cost in its North AmericanoOperations. . Estimates that North American truck production volumes continue to decrease and to be on a lower level for medium term. . Estimated annual cost reduction is 9 million euros ($10 million) for 2017 onwards. . Related non-recurring items will amount 4.5 million euros .Personnel reductions will be maximum 1,000 persons.  Full Article

PKC Group signs global partnership agreement with Bombardier Transportation
Wednesday, 25 May 2016 01:00am EDT 

Pkc Group Oyj : Signs global partnership agreement with Bombardier Transportation . Agreement makes PKC partner to Bombardier Transportation with opportunity to capture 40-70 pct of Bombardier Transportation's annual buy of electrical systems commodity .Agreement is global extension to previous local agreement with Bombardier Transportation in Europe.  Full Article

More From Around the Web


India's Motherson Sumi buys Finland's PKC Group for $619 million

Indian auto parts maker Motherson Sumi Systems Ltd (MSSL) said on Monday it had completed the buyout of Finland's PKC Group for 571 million euros ($619.4 million).