PKC Group Oyj - Company Announcement

PKC Group to divest some light vehicle business and associated assets in North America

PKC Group Plc   Company Announcement      24 November 2016 8:30 am



PKC Group to divest some light vehicle business and associated assets in North
America 



PKC Group sells part of its non-core light vehicle business in North America.
The divestment will encompass separable and identifiable light vehicle product
lines which 2017 estimated revenue is approximately EUR 50 million.
Furthermore, the product lines employ net assets of about EUR 10 million. The
divestment also includes the related employees and building leases. The
divestment is expected to be completed during the fourth quarter of 2016 with a
transaction value of close to net assets at closing (currently estimated to be
about EUR 10 million and which are subject to standard transaction closing
adjustments). The divestment is expected not have significant impact to PKC
Group’s financial result. 



Matti Hyytiäinen (PKC Group, President & CEO):

The divestment of these product lines enables PKC Group to continue to focus on
its core businesses of commercial vehicles, rolling stock, recreational
products and other selected segments where the high mix and low volume nature
of business is more aligned with PKC Group’s core competencies and long term
financial targets. Besides releasing some cash from the assets the divestment
also frees up operational and managerial resources to continue to execute PKC
Group’s growth strategy 



PKC Group Plc



Matti Hyytiäinen

President & CEO



Further information: between 8.30-12 am Finnish time

Matti Hyytiäinen, President & CEO, PKC Group Plc, Tel. +852 5507 8826





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,
Estonia, Finland, Germany, Lithuania, Mexico, Poland, Russia, Serbia and the
USA. The Group's revenue from continuing operations in 2015 totalled EUR 847
million. PKC Group Plc is listed on Nasdaq Helsinki.