PKC Group increases its market share in China
Finnish PKC Group, specialised in electrical distribution systems, has signed a joint venture contract with Anhui Jianghuai Automobile’s (JAC) subsidiary Hefei Jianghuai Automobile (Hefei JAC).
The joint venture aims to increase PKC’s market share in China in both medium and heavy duty truck segments by five percentage points and expand business to buses, light trucks, vans, pick-up trucks and other light vehicles.
“This expansion in China is a major breakthrough for PKC and logical continuity to our strategy published in spring 2013. PKC’s market position in China will increase significantly,” says Matti Hyytiäinen, President and CEO of PKC Group.
The joint venture will comprise current wiring harness business of JAC group with the aim to gradually take-over also other, currently outsourced, wiring systems business.
The venture is accomplished through a new company that will be established in city of Hefei in Anhui province in China. The finalisation is targeted in the second half of 2016.