MOTHERSON SUMI CLOSES PKC DEAL

NEW DELHI: Auto component major Motherson Sumi Systems (MSSL) on Monday said it has completed the acquisition of Finland’s PKC Group Plc for euro 571 million (over ₹4,150 crore). Headquartered in Helsinki, Finland, PKC is a global tier 1 supplier of wiring harness and associated components to original equipment manufacturers (OEMs) in the heavy and medium duty commercial vehicles and locomotive segments across North America, Europe, Brazil and China. The acquisition of PKC supports MSSL in expanding its presence in the niche market of global wiring harness business for commercial vehicles.