NEW DELHI: Automotive components giant Motherson Sumi Systems Ltd (MSSL) on Monday acquired Finnish wiring harness maker PKC Group Plc for 5.71 about 4.15 crore euros 1 crore rupees), which could set the stage for the company’s participation. They announced that they are ready for it. The modernization of Indian Railways presents an opportunity.

Pankajajaj Mital “This acquisition will be our first foray into the locomotive sector with its international customers interested in the Indian Railways modernization program.” Officials. MSSL.’

Vivek Chaand Sehgal, Chairman of the Company “This is in line with our policy and will create higher value for all stakeholders, including investors.”

PKC has 20 manufacturing plants in Russia, Lithuania, Russia, Malaysia, India and Malaysia. Serbia, Poland, Estonia, Finland, China, the United States, Brazil, and Mexico.

Gauba, CFO of MSSL GN “After the acquisition, the wiring harness business will generate revenues of around €800 to €900 million.”

According to preliminary estimates, PKC Group had sales of 846 million euros in 2016.

The merger of MSSL and PKC Group is expected to create value as overlap with existing businesses will be minimized in terms of geographic footprint and product synergies. This is Motherson Sumi’s 16th acquisition since 2002.

The company aims to achieve annual sales of $18 billion by 2020 through global expansion.

Avanteum Advisors LLP VG Managing Partner Ramakrishnan “Inorganic growth is key,” he says. In fact, most of the group’s acquisitions are based on client recommendations. As a result, this not only helps us to expand internationally, but also helps us to win clients. ‘

Helsinki-based PKC Group It is a top-tier global supplier of wiring harnesses and related components to heavy-duty vehicle manufacturers in the medium-sized commercial vehicle and motorcycle segments in North America, Europe, Brazil and China.

Earlier this year, MSSL and PKC they agreed to a public tender offer for MSSLL to acquire all of the issued share capital and voting rights of PKC Group.

The tender offer commenced on February 6th. to acquire from PKC. The shareholders made an offer of €23.55 per share.

MSSL The company is valued at €571.1 million. Prior to the completion of the offering, the company also received pre-delivery regulatory approvals from the exchange.