PKC with personnel adjustments in South America

The Brazilian truck production volumes have continued to decrease further and the full year 2015 heavy duty truck production is estimated to be down by 50 percent from 2014. In addition, the medium term annual growth outlook for truck production in Brazil is estimated to be below 4 percent and production volumes are estimated to normalise by year 2022, the company said. In a view of this recent development and medium term outlook PKC Group has decided to consolidate all its production capacity in Brazil to the Campo Alegre factory. The adjustment measure will affect 550 jobs in Curitiba and is estimated to be completed by end of second quarter of 2016.