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LS Wins $53 Mil. Extra High-Voltage U...

by wireworld on 12/16/2017 - 06:50 pm
Tag: Projects

LS HongQi Cable, the China-based cable manufacturing unit of LS Cable & System, has struck a $53 million deal to provide extra high-voltage underground cables to the Ministry of Electricity and Water in Kuwait, the company announced.This is the first extra high-voltage cable deal LS HongQi Cable has won in the Middle Eastern market. The company will supply 132 kilovolt cables throughout Kuwait from next year through 2019 using a turnkey system, it said."LS HongQi Cable achieved the deal by shifting its target to win a deal from the domestic market to overseas regions such as the Middle East and Asia starting last year," LS Cable & System President and CEO Myung Roe-hyun said in a sta ...

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Furukawa Electric’s Telecom Division ...

by wireworld on 12/16/2017 - 06:45 pm
Tags: Press Releases, Projects

Furukawa Electric LatAm, a subsidiary of the Japan-based Furukawa Electric Group, has now opened a new manufacturing facility in Mexicali, Baja California, focused on the production of solutions for the communications market. 

The new plant will cover 6,000 square meters with two operating units – one for the production of fiber optic cables and cordages and the other for optical equipment, cordages and accessories assembly.

The first phase of operations, which represents an investment of US$ 4.5 million, will concentrate on producing fiber optic cables and cordages for optical fiber access. During its first year, the new Furukawa Electric plant is expected to generate 150 direc ...

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Corning Expands Fiber Optic Business ...

by wireworld on 12/13/2017 - 04:18 am
Tags: Acquisitions, Press Releases

Corning Inc. will spend $900 million to buy a 3M unit, a move to complement and expand its offerings to the fiber optic market.  The company announced it is acquiring the Austin, Texas-based 3M Communications Markets unit.

Corning's takeover will add about $400 million in sales to Corning's revenues and 7 cents to 9 cents per share in annual earnings by 2019, the company said in a statement accompanying the announcement.

“This transaction expands both our global market reach and our high-bandwidth portfolio," said Clark S. Kinlin, executive vice president, Corning Optical Communications. "It also provides new co-innovation opportunities and enhances our abili ...

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Coats Takes Over Patrick Yarn Mill

by wireworld on 12/11/2017 - 10:45 am
Tag: Acquisitions

Coats Group has acquired Patrick Yarn Mill, a manufacturer of high-performance engineered yarns based in North Carolina. The initial consideration is US$21m, with further payments of up to US$4m over a three year period to 2020, contingent on Patrick Yarn Mill achieving certain performance targets. Coats said the acquisition would be funded from operating cash flows and existing debt facilities. Patrick Yarn Mill specialises in cut-resistant and flame retardant yarns. It also produces yarns from recycled fibres marketed under its earthspun trademarks and with its large solar installation promotes its earth friendly yarns as 'Spun by the Sun'.