PKC Group expands its business in China - establishes JV

PKC Group has signed a frame agreement to establish a joint venture with Jiangsu Huakai Wire Harness Co. Ltd. (Huakai). The joint venture aims to increase PKC's market share in the Chinese medium- and heavy trucks segment by 8%-points, and also expand its clientèle with new customers. Huakai develops and manufactures electrical distribution systems for the trucks, construction vehicle and bus segments in China. The companies will respectively own a 50% share in the new company, which will be established by Huakai in Danyang, in the Jiangsu province in China. The Chinese government has required all trucks to comply with Euro 4 emission standard and to have ABS brakes since the beginning 2015. PKC will provide the joint venture with development and manufacturing technology required to meet the new demanding customer demands, including the demands triggered by the Euro 5 and Euro 6 emission standards and the electrification of commercial vehicles in the future.