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LS Cable & System reports plans to refocus on its cable operations

LS Cable & System President & CEO Jaeun Koo presided over a recent board meeting at which the company decided to make organizational changes that will see the creation of a new company, tentatively named LS I&D, that will allow the company "to improve its global competitiveness by focusing only on the company's core businesses, namely submarine and extra high-voltage cables."

LS I&D, a press release at the LS Cable website said, will focus its management capacities on improving corporate value by accelerating the performance and structural improvement of its Superior Essex Inc. subsidiary, which was acquired in 2008, as well as overseeing the real estate development business that LS Cable & System has been promoting over the years.

LS I&D will fully make use of the new changes in the management structure, the release said. "The key to this spin-off is to create a business structure for LS Cable & System with which we can break through the difficult situations the cable industry is facing at the moment, and also for each subsidiary to focus on their fields of expertise," explained an LS Cable & System insider. "In the long run, we will be able to establish an environment for an IPO and asset securitization, and thus shareholder value will improve."

The release said that the U.S. demand for winding wire, communication cables and power cables, the core businesses of SPSX, is expected to improve due to the increased demand for big data communications networks and the automobile industry recovery.

LS Cable did not respond to a request for further details from WJI.

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