Electronics Production | July 13, 2006
PKC Group acquires Canadian cable firm
Finland based Electronis and Wiring Harnesses specialist PKC Group has signed an agreement for the purchase of the business of Electro Canada Limited and the shares of Electro Canada SA de CV and Electro USA Inc.
Electro Canada Limited is a private company with over 40 years' experience in the manufacture of wiring harnesses for vehicles and electrical equipment. The acquisition includes a head office in Toronto, Canada, a wiring harness factory in Nogales, Mexico, and a sales office in Tucson, USA. The PKC Group will incorporate a new subsidiary that will continue Electro Canada's operations in Canada. Electro Canada companies are owned by the same group of owners, although they are not consolidated into a single group. Currently the companies employ about 450 people. In 2005 Electro Canada Companies' net sales totalled EUR 22 million and earnings before interest and tax were EUR 1.5 million. The acquisition brings a significant addition to PKC's customer base. Through acquisition, PKC Group becomes the main global supplier of wiring harnesses to Bombardier Recreational Products. BRP's products include Ski-Doo and Lynx snowmobiles, Sea-Doo watercraft and sport boats, Johnson and Evinrude outboard engines and Can-Am all-terrain vehicles (ATV or Quad) as well as Rotax engines. PKC is already delivering wiring harnesses to BRP in Europe. PKC Group develops this cooperation in order to become a major supplier for BRP in wiring harnesses. The North American operations and especially the factory in Mexico will enable the PKC Group to participate in competitive bids requiring worldwide services and to make deliveries to North American markets with short delivery times. The purchase price is about EUR 9.5 million and the acquisition will be financed by internal funding and debt financing. No interest bearing liabilities will be transferred to PKC with the acquisition. The final closing of the acquisition is contingent upon customary terms and conditions related mainly to the deal concerning Electro Canada's assets, which the seller and the buyer have to fulfil before 1 August 2006. The purchased business will be included in PKC's consolidated financial statements as of 1 August 2006. The acquisition is estimated to have a slightly negative impact on the PKC Group's earnings before interest and tax in 2006 due to transfers of production from Canada to Mexico and other arrangement costs. "The acquisition strengthens significantly PKC's position as a global wiring harness supplier. By expanding to North America we are taking a major step in our growth strategy and the acquisition improves our position in competitive bids to current and new customers", says Mika Kari, President & CEO.
HZO unveils larger HQ in North Carolina HZO, known for protective nano coatings designed to help electronics withstand corrosive liquid environments, held an open house at its new headquarters in Raleigh, North Carolina this week.
Luminator Technology relocates some production to Texas Luminator Technology Group has relocated production of its Apollo Video Technology RoadRunner mobile video security solutions to Luminator’s headquarters in Plano, Texas.
Kurtz Ersa invests heavily in development to stay on top With more than 30 percent of its employees involved in research and development, the company is making sure that it is able to respond to its customers needs at all times.
BMW's new battery cell centre to handle everything from material to prototyping The BMW Group is looking fortify its position in the world of electric mobility and has pooled its many years of experience with battery cells and extensive knowledge in the field in a new Competence Centre.
Sponsored content by EsemdaContract manufacturer Esemda opens new facility in Vilnius and expands EMS The new facility has been built with reserved space for future expansions. As Esemda constantly grows, it is of great importance to be able to rapidly increase production capacity in large volumes.
Cicor selected as production partner for drug delivery system Cicor announces that it has won a major new customer in the medical technology sector, one of the company's strategic target markets.
Keysight, FormFactor and CompoundTek to collaborate Keysight, FormFactor and CompoundTek, have formed a joint plan to provide an advanced photonics on-wafer testing solution to include automated alignment, simultaneous optical-optical and optical-electrical device tests.
Wireless Telecom buys Holzworth Instrumentation Wireless Telecom Group Inc. has signed a definitive agreement to acquire Holzworth Instrumentation Inc., a Boulder, Colorado-based provider of specialty phase noise analyzers and signal generators.
NCAB Group acquires Altus-PCB in USA Altus-PCB is a full-service supplier of PCBs based in New Jersey, USA, that has a business model similar to NCAB’s. Tee US company has a high level of technical expertise and sells mainly to original equipment manufacturers (OEMs).
Sponsored content by SourcengineComponent Aggregators vs E-Commerce Marketplaces What is the difference between electronic component aggregators and a marketplace?
67% of a buyer’s journey is now done digitally. Learn how marketplaces emerged as full-cycle procurement platforms and challenged the traditional component aggregators.
Mycronic's Thomas Stetter looks back at a successful year As the company is moving more and more towards becoming a full solutions provider, business is taking off and the numbers show very much confirms that the Mycronic's strategy is working.
IBL Löttechnik reviews 2019 IBL Löttechnik GmbH is staying on top of the market thanks to continues R&D investments.
Second install for EFI at Mid America Display Silicon Valley’s EFI will install a second EFI Nozomi C18000 single-pass inkjet, direct-to-board printer later this month to Mid America Display.
Ron Jakeman of Electrolube looks back at a successful 2019 Electrolube has been growing, both in terms of its footprint and financially, for a number of years not; Ron Jakeman details the company's progress.
Sponsored content by Z ElektronikaZ Elektronika opens new factory in Pécs To keep up with rapid growth of the company, on the 13th September Z Elektronika celebrated the grand opening of its new electronic design and manufacturing facility close to the highway in Pécs, Hungary, which adds new features and production site to its nearby location.
Etteplan and Scanfil to start strategic cooperation in joint customer projects Engineering company Etteplan and contract manufacturer Scanfil have today agreed to enter a strategic partnership in Finland.
The lovechild of ACE Production and InterSelect Carlos Bouras of Nordson Select gave us the rundown of the result of the integration and combination of ACE Production and InterSelect GmbH - the new Integra.
American Battery Metals, U.S. lawmakers convene American Battery Metals Corporation has completed a series of meetings with lawmakers and personnel in the Department of Energy and Department of the Interior in Washington, D.C., to discuss issues critical to the domestic battery production and storage industry.
Cogiscan, Critical Mfg. form strategic partnership Quebec, Canada-based Cogiscan and Critical Manufacturing, headquartered in Portugal, have forged a strategic partnership to deliver smart factory solutions for electronics manufacturers.
Collins Aerospace expanding in North Africa Collins Aerospace Systems, a unit of United Technologies Corp., has taken the first step toward the expansion of its existing site in Casablanca, Morocco.
The advantage of Vantage - Garrett Wong tells the tale Nordson Asymtek's Garrett Wong gives us a rundown of the business year and also details the Vantage Advantage
Saki’s Eddie Ichiyama details a very successful business year Eddie ichiyama from Saki gave us an update on how 2019 has been for the company and also shared some details on the recent expansion in the Czech Republic.
The ripple effect of Enrico Krog Iversen while being an active part in creating one of the fastest growing robotics companies in modern time might have been enough for most people, that does not seem to have slowed down a certain Danish entrepreneur.
Yamaha's Ichiro Arimoto on the business year and the company's new ventures Evertiq had the opportunity to talk to Ichiro Arimoto, General Manager of Yamaha Motor Europe, about the business year and the company's new ventures.
Mycronic, Indium forge strategic partnership Indium Corporation has announced a strategic partnership with Sweden-based Mycronic, to develop no-clean and water soluble solder pastes for jetting applications.
SCHMID delivers PlasmaLine to Hofstetter PCB SCHMID announced it has installed the company’s first PlasmaLine comprising ICP etch & sputter deposition of its Korean JV SCHMID AVACO at Hofstetter PCB AG in Switzerland.
Cobot market to reach USD 9+ billion by 2025 A new report from Tractica is forecasting continued rapid growth for the global collaborative robot (cobot) market over the next few years, reaching revenue of USD 9.7 billion by 2025.Load more news