PKC Group Oyj
-The PKC Group is the wire harness subsidiary of Motherson Sumi Systems Ltd. (MSSL). It conducts the manufacturing of wire harnesses, battery cables and various assemblies for commercial vehicles.
-The company features one primary business segment, Wiring Systems. Its electronics business segment, comprised of PKC Electronics Oy, was divested to Enics in February 2017.
Acquisition by Samvardhana Motherson Group (Motherson Sumi Systems)
-Motherson Sumi Systems Ltd. (MSSL) announced that its Board of Directors had approved the acquisition of the outstanding share capital and voting rights of the company. Its shareholders are being offered a cash consideration of EUR 23.55 for each share/option, representing an aggregate equity purchase price of approximately EUR 571 million in an open tender offer. Expected to be completed by end of March 2017, the transaction is subject to the completion of closing conditions and receipt of necessary regulatory approvals. The acquisition will be made through a 100% subsidiary of MSSL. The proposed acquisition of the company supports MSSL in expanding its presence in the niche market of global wiring harness business for commercial vehicles. The company has a strong presence in the American and European wiring harness markets for the commercial vehicle segment which will provide new opportunities for MSSL to grow in these areas. MSSL also believes it can help the company in achieving its expansion opportunities given MSSL’s strong market position in the Asia Pacific region which is a highly attractive market for almost all leading commercial vehicle manufacturers. (From press release on January 19, 2017)
-Motherson Sumi Systems Ltd (MSSL) announced that it had acquired 93.75% of the shares in the company for approximately EUR 571 million. On January 19, 2017, they entered into a combination agreement pursuant to which MSSL launched a voluntary recommended public tender offer for the acquisition of all the issued and outstanding share capital and voting rights of the company. (From a press release on March 27, 2017)
-On October 6, 2017, the company’s shares on the NASDAQ Helsinki Stock Exchange were delisted.
Electrical Distribution Systems : EDS
-Power distribution centers
-Routing and retention aids
-Smart Power Distribution Centers : SPDC
-Battery management systems
-Electronic control units
-Timer and flasher relays
Wires & Cables
-PVC insulated wires
-Cross-link insulated wires
|1969||Pohjolan Kaapeli Oy's, owned by Oy Nokia Ab, founded the wiring harness unit.|
|1981||Pohjolan Kaapeli merged with Nokia Kaapeli Oy.|
|1989||Signed the first quality agreement in Finland with Saab-Valmet.|
|1990||Nokia Johdinsarjat Oy was founded.|
|1991||Started subcontracting work in Estonia.|
|1992||Started subcontracting work in Russia.|
|1994||One of Finland's largest MBO arrangements is implemented. PK Cables Oy was established and continues the business operations of Nokia Johdinsarjat Oy.
Withdraws from the passenger car industry and concentrates on the truck and the telecommunications industries.
|Apr. 1997||Listed on the Helsinki Stock Exchange.|
|Sep. 1997||Cap Man Capital Management Oy and the company's operating management sold some of their shares to investors.|
|1998||Opened Brazilian plant.
Acquired Oy Raahen TH Elektroniikka Ab (currently PKC Electronics Oy)
|1999||Began operations at PK Cables Netherlands B.V.|
|Jan. 2000||Changed name to PKC Group Oyj.|
|Aug. 2000||Acquired the majority (70%) of the share capital of Hakutechno Engineering Oy, a technology company specialized in plastic components for the electrical components industry. The new name of the subsidiary acquired will be PKC Electroplast Oy.|
|Jun. 2001||Entered into an agreement with IWS, Finland on manufacturing and marketing cooperation in intelligent power and data supply systems for vehicles.|
|Nov. 2001||Sold its shares in the plastics technology company PKC Electroplast Oy.|
|2002||AS AJT Harju Elekter becomes a part of PKC Group.|
|2003||Carhatec Group becomes a part of PKC Group.|
|2004||Unit in USA started operations.
Electronics business was spun off into a subgroup.
|2005||Established a subsidiary in China.|
|Aug. 2006||Acquired the business of Electro Canada Limited, which is a private company with over 40 years' experience in the manufacture of wiring harnesses for vehicles and electro technical equipment.|
|2011||Acquired of all shares in Segu Systemelektrik GmbH (Germany), Segu Polska Sp. z o.o. (Poland) and TZOV HBM Kable Corp (Ukraine).|
|Oct. 2011||Acquired AEES companies (AEES) from funds controlled by Platinum Equity.|
|Sep. 2015||Established a joint venture with Jiangsu Huakai Wire Harness Co. Ltd. in China.|
|Mar. 2016||Signed a joint venture contract with Anhui Jianghuai Automobile Co., Ltd's (JAC) subsidiary Hefei Jianghuai Automobile Co., Ltd (Hefei JAC).|
|Nov. 2016||Sold part of its non-core light vehicle business in North America.|
|Jan. 2017||Motherson Sumi Systems Ltd. (MSSL) announced that its Board of Directors had approved the acquisition of the outstanding share capital and voting rights of PKC Group Plc (PKC), Finland. an aggregate equity purchase price of approximately EUR 571 million in an open tender offer|
|Feb. 2017||Divested 100% of PKC Electronics Oy shares to Enics, an Electronics Manufacturing Service (EMS) provider. Net asset value at closing, was approximately EUR 10 million.
|Mar. 2017||MSSL announced that it had acquired 93.75% of the shares in the company for approximately EUR 571 million.|