KEMPELE, FINLAND -- PKC Group, a top 50 EMS company, has signed an agreement to purchase Segu's wire-harness companies in Germany, Poland and Ukraine.

Under the agreement, PKC Group’s will acquire all shares in Segu Systemelektrik, Segu Polska and TZOV HBM Kabel Corp. for EUR 20 million. Closing is set for April 30, pending Ukrainian authority approval. The acquisition is expected to be slightly accretive to PKC Group's operating profit in 2011.

The Segu companies manufacture and develop wiring harnesses for the automotive and construction equipment sectors. In 2010, the Segu companies generated EBITDA of EUR 3.8 million on consolidated net sales of about EUR 38 million. They employ 1,000 workers.

"The acquisition is continuance to the acquisition carried out in Poland for over two years ago. Segu and PKC’s Polish unit will form a business unit servicing the West European markets with annual sales of about EUR 100 million and about 2,500 employees," said Harri Suutari, president and CEO.

PKC had overall sales of $433 million in 2010, of which $101 million were from electronics manufacturing services, and the rest from wire harnesses.

Ed.: 1 EUR = 1.38417 USD

Register now for Virtual PCB, the industry's only live, fully interactive, Web-based conference and trade show for PCB engineers, designers, fabricators, assemblers and managers worldwide, March 8-9. www.virtual-pcb.com

• Prev
• Next