 "Workers assemble a Ford truck at the carmaker's plant in Louisville, Kentucky in September. Ford has reversed its decision to a move a part of the plant to Mexico REUTERS")
Motherson Sumi, the biggest automobile component maker in the country, on Friday announced the acquisition of Finland-based PKC Group, a wiring harness maker, for $609 million, or Rs 4,150 crore. This would be its largest overseas acquisition.
Also one of the biggest acquisitions by any Indian automobile company, this puts Motherson Sumi firmly on path to realising its annual revenue target of $18 billion by 2020. In FY16, its revenue grew to $5.7 billion, through overseas acquisition. At present, PKC Group’s annual revenue is nearly $1 billion.
The 30-year-old company, led by Vivek Chaand Sehgal, will now get a much
