© mucella1 dreamstime.com
Electronics Production | February 10, 2017
PKC increased its operating profit by 31% in 2016
During 2016, PKC reached its set operational targets. While revenue remained flat to 2015, both its EBITA and operating profit increased.
As stated before, revenues for 2016 remained at the same level as that of 2015 and amounted to EUR 846 million (EUR 847 million in 2015). The company’s EBITDA however increased 8.1% in 2016, climbing from EUR 59.52 million in 2015 to EUR 64.35 million in 2016. The company’s 2016 operating profit increased 31.2% from EUR 20.23 million in 2015 to EUR 26.57 million.
During the year the rolling stock business – which was acquired in 2015 – was successfully integrated as part of PKC and began to see profitable growth. Also, the company reports that its expansion into the Chinese truck market started to gain some traction. During the 2016 financial year, PKC established a joint venture with the JAC Group of China – which is expected to start operations by the end of Q2/17.
In January 2017 Motherson Sumi Systems Limited made public tender offer for all PKC shares and option rights.
“By combining both companies the target is to create world leading wiring harness and component company to serve transportation industry. This is exciting development for our company and employees, offering us new opportunities in many areas,” says CEO and president Matti Hyytiäinen in the company’s financial statement.
During the year the rolling stock business – which was acquired in 2015 – was successfully integrated as part of PKC and began to see profitable growth. Also, the company reports that its expansion into the Chinese truck market started to gain some traction. During the 2016 financial year, PKC established a joint venture with the JAC Group of China – which is expected to start operations by the end of Q2/17.
In January 2017 Motherson Sumi Systems Limited made public tender offer for all PKC shares and option rights.
“By combining both companies the target is to create world leading wiring harness and component company to serve transportation industry. This is exciting development for our company and employees, offering us new opportunities in many areas,” says CEO and president Matti Hyytiäinen in the company’s financial statement.
Foundry market dominated by TSMC - owns half
Research shows that in 2017, the top eight major foundry leaders (i.e., sales of ≥$1.0...
Merlin Circuit Tech invests in XRF machine
UK-based PCB manufacturer Merlin Circuit Technology has take a bit of money out of the...
PLATO to get OHB Systems expertise
OHB System AG was commissioned as prime contractor for the science...
Cable manufacturer sets up shop in Lithuania
Baltijos Eukutecas, Lithuanian entity of German cable manufacturer Eukutec, will...
Rheinmetall secures Skyshield air defence systems order from Asia
In a competitive bidding process, German-headquartered Rheinmetall Air Defence won the...
Plexus is planning a second manufacturing facility in Mexico
The EMS provider is planning to construct a second manufacturing facility in Guadalajara, Mexico .The 472,000 square foot leased building will be built for Plexus by Corporate Properties of America and will be located near...
Iridium satellites being 'processed' at SpaceX
All five Iridium NEXT satellites for its sixth launch are in processing at SpaceX’s west coast launch...
North American PCB industry growth continues upward
Industry shipments and orders continued to grow at a brisk pace in March. The book-to-bill...
Third Leoni plant in Serbia goes online
German cable and cable harness manufacturer Leoni has completed and inaugurated its third Serbian plant in Nis. Harnesses for one of the world's premium carmakers are being manufactured on a production space of...
German Starz Group goes to Danish investor
NorthCapital Holding ApS acquired Starz Group, a manufacturer of cable sets for...
Electrolube record growth all over
The electro-chemicals manufacturer has today announced its biggest growth...
Meyer Burger to take patent infringement lawsuit even further
Meyer Burger says it will take its patent infringement lawsuit regarding its Diamond Wire...
Jabil keeps pushing additive manufacturing with HP
HP signed new agreements with Jabil and Forecast 3D to "drive the future of...
Zestron opens shop in Taiwan
Zestron says that the company has officially opened its newest and eighth facility, located in...
Sanmina’s second quarter - ‘Better than expected’
EMS provider Sanmina recorded second quarter revenues of USD 1.68 billion, compared to USD...
Mycronic bags tenth mask writer order to replace an system
Swedish Mycronic AB says it has received an order for a mask writer replacing an older system...
German battery manufacturer invest in Chinese location
Germany’s BMZ Group is investing around EUR 7 million in its twelve-storey Chinese...
Elemaster acquires GDM - adds locations in Belgium and Romania
Italian EMS provider, Elemaster, is strengthening its global footprint by acquiring GDM Electronics with locations in both Belgium and Romania.
MLCC shortages create challenges in 2018
Limited capacity expansion in the MLCC (Multi-Layer Ceramic Capacitor) industry, specifically...
Picture gallery: Evertiq Expo Helsinki
You missed Evertiq Expo Helsinki you say? Don't worry, we got you covered.
Fresenius Kabi expands production site for medical devices
Fresenius Kabi has started work on a major expansion of its production site for medical devices in Haina, Dominican Republic, which will create about 500 new jobs.
Cobham to supply Orion crew module elements
Cobham has been awarded contracts by Lockheed Martin Space to supply a suite of...
Related news
Most Read
Load more news
Comments