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Found 102 records | Page 1 of 11

LS Cable & System Extends Investment ...

by wireworld on 04/17/2017 - 09:05 pm
Tags: Acquisitions, Press Releases

LS Cable & System announced that it will take over a power cable plant in North Carolina from its U.S-based subsidiary Superior Essex Inc. (SPSX).

The company plans to spend US$24.6 million (27.5 billion won) in total to establish LS Cable & System U.S.A in Taboro, North Carolina.

SPSX is the world’s No.1 winding wire maker and North America’s No. 1 communication cable maker. The company has 17 factories in seven countries such as the U.S., Germany and Italy and is headquartered in Atlanta, Georgia. It posted US$1.74 billion (1.95 trillion won) in sales last year.

After entering the power cable market in 2012, SPSX completed its power cable plant near existing communic ...

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Watteredge Brand Transitioning to Sou...

by wireworld on 03/31/2017 - 08:17 am
Tags: Acquisitions, Press Releases

Since 1949, Watteredge, LLC has been developed a legacy for providing focused customer service and quality products. The company has provided essential engineered products for a wide variety of industries including Energy, Automotive, Chemical Processing, Transit, Power Generation, and more.

In 2012, the company was acquired by Coleman Cable, and, in 2014, by Southwire Company, LLC. As part of Southwire Company, the 75,000 square foot facility located just outside Cleveland, Ohio continued to be a trusted manufacturer of battery and custom bus bar copper connectors, high current DC switches, laminated shunts, air cooled cables, and a variety of custom engineered products.

In 2017, as we co ...

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Xtera Emerges From Bankruptcy With Ne...

by wireworld on 03/22/2017 - 09:05 am
Tags: Acquisitions, Press Releases

H.I.G. Capital, which recently sold its holdings in specialty fiber maker Fibercore, is back in the fiber-optics game via its acquisition of the assets of Xtera Communications Inc. The optical transport systems company filed for Chapter 11 protection this past November, and H.I.G. provided debtor-in-possession financing as part of that process.

Neptune Bidco, a unit of H.I.G. European Capital Partners, provided a stalking horse bid of $10 million for the assets within the Chapter 11 proceedings. H.I.G. did not release the final terms of the acquisition.

Robert Richardson said that the company will no longer pursue development of systems for conventional long-haul and metro applications. Ho ...

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Leoni Acquires Majority Stake in Adap...

by wireworld on 03/16/2017 - 09:49 am
Tags: Acquisitions, Press Releases

Leoni, provider of cables and cable systems to the automotive sector and other industries, has secured a two-thirds holding in Adaptricity AG. The ETH Zürich spin-off will contribute software-supported consulting services based on expert electrotechnical knowledge to the Group.

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“This majority holding in Adaptricity gives us access to skills in the fields of software, simulation and cloud-based data analysis, which we have defined as the primary building blocks of our strategic development towards being an innovative solutions provider,” Bruno Fankhauser, member of Leoni AG's Board of Directors with responsibility for the Wire & Cable Solut ...

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Teufelberger To Acquire Italian Steel...

by wireworld on 01/30/2017 - 11:46 am
Tag: Acquisitions

Teufelberger has signed a definitive agreement for the acquisition of Italian steel wire rope manufacturer Redaelli Tecna from Russian Severstal–metiz.

Austria-based Teufelberger specialises in the development design and manufacture of high tech steel wire ropes. In 2015 it reported revenues of €180m, of which 90% came from exports.

Redaelli designs and manufactures steel wire ropes for offshore and onshore oil and gas activities, mining, cableways, material transportation and hoisting. It generated total revenues of €92m in 2015.

Florian Teufelberger, CEO of Teufelberger said: “We are convinced that Redaelli will be an enormous gain for Teufelberger. Together, we w ...

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PAO Severstal  With Agreement For Sal...

by wireworld on 01/27/2017 - 08:48 am
Tags: Acquisitions, Press Releases

PAO Severstal one of the world’s leading vertically integrated steel and steel-related mining companies, announces that its subsidiary, JSC Severstal – Metiz, Severstal’s international metal ware manufacturer, has entered into a definitive agreement with Teufelberger Wirerope GmbH, a leading international metal wire ropes producer based in Austria, for the sale of Severstal’s subsidiary company Redaelli Tecna S.p.A.

Redaelli Tecna S.p.A. is based in Italy and is a global market leader in the design and manufacture of steel wire ropes for off-shore and on-shore oil activities, mining, cableways, material transportation and hoisting, in the development and product ...

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Motherson Sumi Buys Finnish Wiring Ha...

by wireworld on 01/20/2017 - 10:24 am
Tag: Acquisitions

Motherson Sumi Systems Ltd (MSSL) has signed an agreement to acquire Finnish wiring harness maker PKC Group Pic for € 571 million (about Rs 4150 crores).

Helsinki-headquartered PKC is a global tier 1 supplier of wiring harness and associated components to original equipment manufacturers (OEMs) in the heavy & medium duty commercial vehicles and locomotive segments across North America, Europe, Brazil and China.

MSSL 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 estimat ...

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Southwire Acquires Sumner Manufacturing

by wireworld on 12/20/2016 - 01:47 pm
Tag: Acquisitions

US Wire and cable manufacturer Southwire has acquired material lift manufacturer Sumner Manufacturing from owner Rob Collins. Carrollton, Georgia based Southwire claims to be North America’s largest manufacturer of wire and cable and the third largest worldwide. The acquisition includes Sumner’s manufacturing operations and corporate support functions in Houston and Langfang, China, as well as its direct sales and distribution operations in Canada, the UK and the Netherlands. Sumner’s 160 employees remain with the company, and its manufacturing facilities will be integrated into Southwire's business operations.

Southwire chief executive Rich Stinson said: "We are excited t ...

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Patrick Industries, Inc. Completes Ac...

by wireworld on 12/07/2016 - 09:30 pm
Tag: Acquisitions

Patrick Industries, Inc. has announced that it has completed the acquisitions of the business and certain assets of Sigma Wire International, LLC, headquartered in Elkhart, Indiana, and KRA International, LLC, headquartered in Mishawaka, Indiana. Sigma is a manufacturer of a wide range of PVC insulated wire and cable products primarily for the recreational vehicle ("RV") and marine markets. KRA, which operates primarily in the RV and industrial markets, is a manufacturer of wire harnesses and associated assemblies for RVs, commercialvehicles, lawn care equipment, marine products, the defense industry, and automotive aftermarket products.

The Company projects the combined 2016 rev ...

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Prysmian Group to Acquire the Assets ...

by wireworld on 12/02/2016 - 01:59 pm
Tags: Acquisitions, Press Releases

Prysmian Group, world leader in the energy and telecom cable systems industry, announces it has won a bankruptcy auction for certain assets of a HV cables factory in China previously operated by Shen Huan Cable Technologies for total considerationof around 305 million RMB (approx. € 42 million), plus taxes in the region of 30 million RMB (approx. € 4 million). The procedure for completing the acquisition of these assets is expected to start in the next few days. This acquisition will be carried out by Prysmian Technology Jiangsu Co. Ltd., a company 100% owned by the Group’s holding company in China, Prysmian China Investment Co. Ltd., incorporated after the announcement of th ...

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