After PKC buy, Motherson Sumi may bid to acquire a Bosch arm
Country’s biggest component maker Motherson Sumi may bid for a division of Bosch that has annual revenues of $1 billion. Motherson has just spent 571 million euros in acquiring PKC, a Finnish firm that manufactures wiring harnesses for commercial vehicle producers. Motherson has raised a long-term debt of $225 million euros to fund this deal. Bosch clocked revenues of $5.7 billion in FY16 and aims to reach $18 billion by 2020. PKC, which has revenues of 846 million euros is an important step towards the 2020 target.