SAMP reports that it has agreed to sell its 45% stake in SETIC to GAUDER & Co., as part of a deal in which SETIC will transfer some of its POURTIER low- and medium-voltage business to SAMP Srl.
Per the announcement, SAMP will have exclusive rights to produce and sell POURTIER-designed machines for low- and medium-voltage applications under the SAMP POURTIER brand. SETIC will continue to supply POURTIER high-speed, concentric stranders and single-twist machines as well as rigid stranders for overhead cables. C2S, the service division of Setic S.A.S, will also continue to develop a complete and modern services portfolio for existing and future POURTIER and SETIC equipment.
SETIC will continue to rely on production and commercial support from SAMP for SETIC machines made in China, which will continue to be manufactured in SAMP’s facilities in Changzhou, China, with oversight from SETIC’s French engineers. SAMP will also act as SETIC's agent in selected markets in South America, Africa, Middle East and Asia as well as the Balkans.
SAMP China will continue to supply and support its Daloo machines. Part of The POURTIER low- and medium-voltage products, Daloo and the existing SAMP rotating machinery businesses will be combined to form a new, integrated SAMP rotating product line. SAMP further retains the rights to utilize the Pourtier product name for five years.
The transaction clarifies the relationship between the two companies, ensuring continuity of products and services for each firm’s demanding international clients. It was described as a win-win deal.
“This is a big step for both of our companies,” said SAMP Chairman Jouni Heinonen. “It allows each firm to better serve its customers without losing any of the benefits of our complementary products and services.”
“This acquisition is a wonderful homecoming,” said Setic/Gauder & Co. CEO Thierry Collard. “It allows SETIC to focus on its core business and implement appropriate strategies and developments for each product range. It strengthens our global leadership in the production of equipment for data, industrial Ethernet, communication and automotive cables for the benefit of all stakeholders. The reorganization of the POURTIER portfolio will also allow SETIC to offer POURTIER equipment for overhead, high and very high voltage cables. Ultimately, this is a big step forward for SETIC and its subsidiaries, for SAMP and above all, for our customers and the wire and cable manufacturing industry.”