Motherson Sumi Systems, which today said it has completed the $609 million acquisition of Finland-based truck wire maker PKC Group, expects an annual growth of 40% over the next few years. The Indian auto-component maker and engineering firm aims to become a $18 billion company by the year 2020, it said. Motherson Sumi also said that it expects huge value creation, driven by the acquisition of PKC, which would allow it to cross-sell and to venture into new geographies. PKC is already a profit-making company, and the Indian firm sees huge synergies, it said. Earlier January, Motherson Sumi had said that it would acquire Finland\u2019s PKC Group for EUR 571 million to expand its product portfolio and market presence. Motherson Sumi had said that the acquisition will help expand its presence into new market without overlapping with its current offerings. \u201cThe proposed acquisition of PKC supports MSSL in expanding its presence in the niche market of global wiring harness business for commercial vehicles,\u201d Motherson Sumi had said, adding, \u201cThe combination is expected to be highly value accretive as there is minimal overlap between their existing operations in terms of geographical presence and great synergies in product segments which will unlock the true potential of the combined entity.\u201d Post acquisition, Motherson Sumi owns about 94.7% equity stake in PKC Group. PKC has a market leading presence in the wiring harnesses for commercial vehicles in the North America and Europe markets. Apart from these geographies, PKC has a significant presence in Brazil and, a growing presence in China. PKC had over 22,000 employees and estimated revenue of approximately EUR 846 million for the year 2016. You may also like to watch: [jwplayer ocDzQJRZ] Motherson Sumi makes specialised automotive components for OEMs (original equipment manufacturers). Motherson Sumi had said that it is offering good valuations to the shareholders of PKC Group. The premium is justified since to set up a company like PKC would take 10-15 years, it said. The acquisition is in line with the company\u2019s 2020 growth target strategy. \u201cWhile supporting PKC to accomplish its expansion opportunities, the combined entity will further invest in new technologies which would be required to maintain market leadership and in achieving its goal as the preferred solutions provider for the global automotive industry,\u201d it said. Motherson Sumi\u2019s shares closed flat at Rs 366 on BSE on Monday, outperforming the benchmark index, which fell over 0.63%.