© luchschen dreamstime.com Electronics Production | September 09, 2013
PKC set up JV with Chinese Sinotruk
PKC Group has signed a framework agreement for strategic cooperation with China National Heavy Duty Truck Group Company Limited, Sinotruk.
Sinotruk designs, develops, produces and sells a range of heavy duty trucks, special-purpose vehicles, buses, refitted vehicles, engines and their sets, parts and special type chassis. Under the preliminary agreement, PKC and Sinotruk desire to explore certain forms of cooperation in connection with the manufacturing of wiring systems, which include setting up a joint venture in China and signing a long term supply agreement subject to further negotiations. The joint venture would manufacture wiring systems for Sinotruk and possibly also for other customers in China and abroad. “We are excited about this exceptional opportunity to start strategic cooperation with Sinotruk, as it represents a momentous step in PKCs strategy to enter Chinese markets. China is the worlds largest commercial vehicle market and PKC has set entry into Chinese and other Asian markets as one of the Groups strategic key objectives. PKC is the globally leading wiring systems manufacturer in the truck industry and technology leader and we believe the strategic cooperation with Sinotruk has significant benefits for both parties and provides an excellent value-creation potential for our owners,” states President & CEO Matti Hyytiinen. “We are pleased to sign a strategic framework agreement with PKC to explore co-operation in manufacturing state of the art wiring systems for Sinotruk's own range of trucks and potentially for other customers in China and abroad, said Ma Chunji, Chairman of the board of Directors at Sinotruk.