PKC Group Oyj - Company Announcement

PKC HAS SIGNED A STRATEGIC COOPERATION AGREEMENT WITH SINOTRUK

PKC Group Plc           Company Announcement      9 September 2013    8:25 am



PKC HAS SIGNED A STRATEGIC COOPERATION AGREEMENT WITH SINOTRUK



PKC Group (“PKC”) has today signed a Framework Agreement for Strategic
Cooperation with China National Heavy Duty Truck Group Company Limited
(“SINOTRUK”). 



SINOTRUK, founded in 1956 in Jinan, P.R. China, designs, develops, produces and
sells a wide range of heavy duty trucks, special-purpose vehicles, buses,
refitted vehicles, engines and their sets, parts and special type chassis.
SINOTRUK manufactures annual volumes of up to 195,000 trucks and 200,000
engines. SINOTRUK enjoys clear leading advantages in technology and market
share in China's heavy duty truck industry, and sells its products to more than
90 countries. Today, SINOTRUK is one of China's largest heavy duty truck
manufacturers and has made significant contribution to the development of
China's heavy duty truck industry and national economic growth. 



Under the preliminary agreement, PKC and SINOTRUK desire to explore certain
forms of cooperation in connection with the manufacturing of wiring systems,
which include setting up a joint venture in China and signing a long term
supply agreement subject to further negotiations. The joint venture would
manufacture wiring systems for SINOTRUK and possibly also for other customers
in China and abroad. 



MATTI HYYTIÄINEN, PRESIDENT & CEO:



”We are excited about this exceptional opportunity to start strategic
cooperation with SINOTRUK, as it represents a momentous step in PKC's strategy
to enter Chinese markets. China is the world's largest commercial vehicle
market and PKC has set entry into Chinese and other Asian markets as one of the
Group's strategic key objectives. PKC is the globally leading wiring systems
manufacturer in the truck industry and technology leader and we believe the
strategic cooperation with SINOTRUK has significant benefits for both parties
and provides an excellent value-creation potential for our owners”, states
President & CEO Matti Hyytiäinen.” 



MA CHUNJI, CHAIRMAN OF THE BOARD OF DIRECTORS AT SINOTRUK:



“We are pleased to sign a strategic framework agreement with PKC to explore
co-operation in manufacturing state of the art wiring systems for SINOTRUK's
own range of trucks and potentially for other customers in China and abroad”. 





PKC GROUP PLC



Board of Directors



Matti Hyytiäinen

President & CEO



For more information, please contact:

Matti Hyytiäinen, President & CEO, PKC Group Plc, tel. +358 (0)400 710 968
(from 10:00 am to 12:00 am) 





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PKC Group is a global partner, designing, manufacturing and integrating
electrical distribution systems, electronics and related architecture
components for the commercial vehicle industry and other selected segments. The
Group has production facilities in Brazil, China, Estonia, Finland, Germany,
Mexico, Poland, Russia, 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.