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Hellenic Cables press release: this one is best presented in reverse order, a WJI 1st

Hellenic Cables reports that it has finalized individual contracts with Ørsted and Eversource for two offshore wind projects in the U.S., but the last sentence in its press release was of even greater interest: “Finally, following previous announcements, Hellenic Cables and Ørsted continue their discussions concerning a possible partnership for the construction of a submarine cables factory in Maryland, USA.”

There was no further detail about that possibility, but the preceding two sentences set the basis for what the company sees in terms of potential. “Hellenic Cables reaffirms its leading role in the development of infrastructure critical to the energy transition in the U.S. and globally. Hellenic Cables’ track record in the United States offshore wind sector includes Mayflower Wind in Massachusetts and Dominion’s Coastal Virginia Offshore Wind, both for the supply of 66 kV array cables.”

Continuing the reverse presentation of the press release,  in it, Alexis Alexiou, CEO of Hellenic Cables and parent company Cenergy Holdings SA observed, “This long-term partnership with Ørsted and Eversource is proof of Hellenic Cables’ commitment to the U.S. offshore wind industry as a core part of our business and our strategy for the future. We are proud to work with industry leaders on flagship projects that are transformational for the nation’s energy sector as a whole.”

The U.S. subsea cable market has been bolstered by the outlook for more coastal wind farm projects. Last year, the Prysmian Group announced plans to build a submarine cable plant in Brayton Point, Massachusetts. In 2021, Nexans re-launched a high-voltage cable plant in Charleston, South Carolina, and converted to produce subsea cable. 

Returning to the titular reason for the press release, Hellenic Cables announced that it will design, manufacture, test and supply approximately 260 km of 66 kV XLPE-insulated subsea inter-array cables and associated accessories for South Fork Wind and Revolution Wind in the Northeast U.S. Production will be phased through 2024 according to each individual project’s delivery plan.

Hellenic Cables notes that it is one of the largest cable producers in Europe, manufacturing power and telecom cables as well as submarine cables for various industriesThrough its subsidiary, Fulgor, Hellenic Cables operates its submarine cables plant in Corinth, Greece, where it makes some of the world’s longest submarine cables without factory joints.

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Last modified on March 13, 2023

Nexans negotiating sale of its Telecom and Data business to private equity fund

Nexans has entered into exclusive negotiations with Syntagma Capital, a Belgium-based private equity fund, for the sale of its Telecom and Data business.

A press release said that the proposed transaction “marks Nexans’ exit from the telecom and data activity in line with its strategy to simplify its activities and amplify its impact in electrification markets.” The transaction is expected to be completed by the end of the first half of 2023.

The sale would include eight sites spread across France, Belgium, Germany, Greece, Morocco, China and Singapore that design, produce and commercialize advanced solutions for telecom, LAN networks as well as data centers. These operations constitute the main remaining part of the Telecom & Data division after the sale of Berk-Tek in 2020.

The proposed sale furthers the choice by Nexans to focus on electrification markets. In the company’s 2022 earnings report, CEO Christopher Guérin said that the numbers support that decision. “We were, yet again, proven right in reaffirming our choice: ‘Striving to champion a global sustainable electrification.’ As global grid investments soar, our Electrification businesses are up +12.9% organically, with record EBITDA performance, and all-time high adjusted Generation & Transmission backlog.”

S&P Global Ratings revised its outlook for Nexans from stable to positive and confirmed its ‘BB+’ rating. “Nexans’ operating performance has improved, thanks to progress made in its transformation plan, which focuses on electrification and achieving higher and more stable cash flows.”

At its website, Syntagma notes that the company, established in 2009, invests in businesses that can benefit from its hands-on operational expertise to accelerate growth and improve performance. It has deployed €1.1 billion in over 40 companies with revenues in excess of €4 billion and employing over 11,000 people worldwide.

The team has successfully carved-out businesses from public and private companies, among others, Solvay, Tessenderlo, Ashland, Clariant, Tyco International, Smurfit Kappa, ADT and Getronics.

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Last modified on March 6, 2023

Private equity fund extends its wire industry portfolio by acquiring 2 manufacturers

Auxo Investment Partners reported that it has acquired two U.S. manufacturers—TACK Electronics and Morgan Royce Industries (MRI)—for an undisclosed price.

A press release said that the two companies manufacture custom wire harnesses, cable assemblies and box builds for the semiconductor equipment, aerospace and defense, gaming, medical, transportation and energy equipment industries. The additions follow Auxo’s purchase of wire and harness manufacturer Golden State Assembly, and help expand the firm’s growing wire platform.

TACK Electronics, Inc., based in Grand Rapids, Michigan, produces custom wire harnesses and assemblies for a wide variety of electronic applications. Per its website, the business was founded in 1996 by George Maines and his wife Linda in a two-stall garage, and grew over the years. It is now run by their son, Todd Gaines, who later became CEO, and is expected to continue in that role.

Morgan Royce Industries (MRI), based in Fremont, California, was founded in 1991. It specializes in turnkey, and consignment, cable, wire harness, PCP assemblies, box builds, upgrades, reconfigurations, repairs, and more. It is headed by CEO Larry Johnston, who is also expected to remain in that role.

Golden State Assembly provides harnesses and other products for sectors that include automotive, solar, power, medical, semiconductor and agriculture equipment.

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Last modified on March 6, 2023

Kern-Liebers expands Mexican plant

Germany’s Kern-Liebers, a manufacturer of highly complex strip and wire parts and assemblies has expanded its Mexican production plant in Guadalupe, Nuevo Leon, with an investment of US$10 million.

A press release said that the plant will produce 50 million high-precision parts for the automotive, medical and consumer goods industries, from seat belts and lifelines to tape measures and window springs. The expansion will also create some 300 jobs.

Kern-Liebers has been present in Nuevo León since June 2019, when the first phase of this plant began operating. Due to the growing demand from customers in North America, the company has added 3,387 sq mt of surface area, an expansion of about 50%.  Timm Jenisch, senior vice president for North America, said that it is important for Kern-Liebers to be present in North America, the largest commercial market in the world. “We are convinced that Nuevo León is the ideal location to be in this region, due to its geographical location, excellent connectivity and favorable conditions for the industry.”

The company has plants in the U.S. and Mexico that manufacture springs and wires, as well as other products. The ceremony was attended by local officials as well as Dr. Erek Speckert, the company’s CEO and chairman of the Management Board.

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Last modified on March 6, 2023

Elettrotek Kabel SpA reports that it has acquired Italy’s Controlcavi Industria Srl

Elettrotek Kabel SpA (EK Group) has acquired Controlcavi Industria Srl—an Italian manufacturer of fire-resistant electrical cables for the marine, onshore and offshore petrochemical industry—and the trading company that owned it.

A press release said that the deal for the business, now called CCI Cable Service, will expand the scope of the EK Group, enabling it to continue the growth path it has been on since its founding in 2001. The EK Group now has 250 employees and annual revenues topping 150 million euros in its three divisions: electrical cable production, cable harness production and assembly and its worldwide commercial distribution.

The Italian manufacturer of low- and medium-voltage cables was formed in 1981. It operated with headquarters in Bernate Ticino (MI) and Milan, under its trading company, CCI Cable Service Srl. Products from the company, which is known for its FIREBAR® fire-resistant technology, have been  approved by many of the world’s largest industrial, naval and petroleum groups.

EK Group President & CEO Robert Gallingani said that CCI Cable Service represents a perfect fit as the company share its values and entrepreneurial culture. “This knowledge alignment will result into an easy integration between the two companies, with subsequent growth of the EK Group in markets where track records, approvals and 40 years of experience are fundamental.”

Gallingani said the deal also respects the will of the recently deceased sole director and owner of the CCI Cable Service group, Gianpaolo Brambilla, to continue the company’s development path pursued by two generations, to preserve the excellence achieved and company values.

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Last modified on March 6, 2023

Prysmian wins 3-year contract to upgrade the electrical grid cable lines of the U.K.

The Prysmian Group reports that it has been chosen by National Grid Electricity Distribution (NGED) to help the upgrading process of the U.K.’s electricity grid.

A press release said that Prysmian has been awarded a medium-voltage cable framework agreement with NGED, the U.K.’s largest electricity distribution network, that is for a minimum of three years. The deal was reached through Prysmian’s U.K. subsidiary.

Prysmian will supply medium-voltage cables primarily made at the Group’s Wrexham plant in North Wales. The cable will enable NGED Grid to expand and modernize the network. Prysmian and NGED have built a strategic relationship over many years across all voltage levels for supply into the U.K. market. Such projects include the North Sea Link, the world’s longest submarine electricity interconnector, enabling the sharing of renewable energy between the U.K. and Norway; the Viking Link, the first submarine cable connection between the U.K. and Denmark; IFA2, the turn-key design, manufacture and installation of a submarine and land power cable link to connect Tourbe in France to Chilling in Hampshire, U.K.; and the Western HVDC Link, a new submarine High Voltage Direct Current (HVDC) interconnector between Scotland and England.

Hellenic Cables receives a 2nd contract to replace existing cable lines in Adriatic Sea

Hellenic Cables has signed a second contract with Croatia’s Končar Group to supply it approximately 30 km of 110 kV high-voltage submarine cables to replace outdated cable lines in the Adriatic Sea.

A press release said that Hellenic Cables will start production of the cable this year at its production facility in Corinth, Greece, and is expected to finish early in 2024. The company will also provide accessories and related services as part of the project for Končar Engineering Ltd., a regional supplier of engineering solutions, power transmission and distribution, rail vehicles and infrastructure.

The order marks repeat business. A prior order, in 2021, completed in 2022, saw the delivery of 12 km of 110 kV submarine cables, accessories and related services. “For the second time, we have chosen Hellenic Cables as a partner in a strategic project in Croatia which will connect Croatian islands Hvar, Korčula, Cres and Lošinj with new 110 kV HV cables,” said Gordan Planinić, MOB of Končar Engineering Ltd. “This enables, above all, to maintain the security of supply of customers on the Adriatic islands as well as a significant environmental contribution to the preservation of the cleanliness of the Adriatic Sea.”

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Last modified on March 6, 2023

Midal Cables to provide conductors for a 126-mile long U.S. transmission line project

Midal Cables, based in the Kingdom of Bahrain, will provide the transmission line conductors for the Ten West Link Transmission Line, an energy infrastructure project that had the support of the Biden-Harris administration.

A press release said that Midal Cables was chosen to supply the conductors for the project, which the Biden-Harris administration announced had been given the approval by the Interior Department. The project will facilitate increased renewable energy development and delivery in Arizona and California. The 126-mile long project will deploy a 500-kilovolt (kV) alternating current overhead transmission line.

“This prestigious project being supplied through EC Source to DCRT adds to many such projects that Midal Cables has had the opportunity to be associated with in North America,” the release said. It notes that Midal Cables is one of the world’s largest manufacturers of bare aluminum overhead conductors, which are made in the company’s four factories, and supplied to more than 60 countries world-wide.

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Last modified on March 6, 2023

Leoni celebrates its Mexican expansion

A press release said that expansion of the plant in Cuauhtémoc, which opened in 1998, was made to meet the increasing market demand. Over the next five years, Leoni will invest approximately $16.8 million for additional production equipment. The expansion is expected to result in at least 30 new jobs.

During the opening ceremony, Bill Livengood, president of Leoni Cables North America, expressed his gratitude for the excellent cooperation with the state of Chihuahua and the city of Cuauhtémoc. Guests at the celebration included the Governor of Chihuahua, Maria Eugenia Campos; the Secretary of State for Economic Affairs, Maria Angelica Granados; and local officials.

The Cuauhtémoc plant has become an important player in the automotive cables business in NAFTA. It manufactures a broad product portfolio ranging from simple single-core cables to complex multi-core cables for driver assistance systems and data cables for autonomous driving is answering the needs of Tier 1 and Tier 2 customers in North America.

In 2020, Phase I of a project called EMOMEX (E-Mobility Mexico) was accomplished. It included an investment of $27 million in equipment and machines for the design, development and production of high-voltage cables and cables for charging systems. More than 120 new employees were hired.

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Last modified on March 6, 2023

Lee Spring reports acquisition of company that specializes in miniature springs

Lee Spring, a global leader in stock and custom springs, has acquired U.S.-based D.R. Templeman Company, which specializes in the design, engineering and manufacturing of springs, spring guides, rings and wire forms made from fine wire.

A press release said that Templeman, founded in 1938 and based in Plainville, Connecticut, has proprietary technology and deep experience in the manufacture of spring guides, also known as catheter coils and cable sheaths. The acquisition expands the capabilities for both Lee Spring and Templeman with an expansion in both the products and services they can offer their respective customers. All Templeman employees were invited to continue to operate from their current facility.

“Templeman boasts an outstanding team and their highly skilled specialization in miniature springs is in perfect alignment with Lee Spring’s growing business in medical devices, electronic components and switches and inspection instruments,” said Lee Spring CEO Steve Kempf. “Their deep expertise in these critical sectors combined with their unsurpassed reputation for quality make this acquisition a natural fit for both companies.”

The combined operations will allow both companies to offer more products and services to their respective customers, the release said. “Templeman has very talented employees and many long-standing innovative customers,” said Templeman President Richard Williams. “I am confident that the needs of both groups will be well served by the combined strengths of D.R. Templeman and Lee Spring.”

Founded in 1918, Lee Spring is based in Brooklyn, New York, with multiple facilities in the U.S., as well as locations in the U.K., Germany, Mexico, China and India.

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Last modified on March 6, 2023

U.K.-based Allied Wire International is bought out by senior management team

Three officials of U.K.-based Alloy Wire International (AWI) have purchased the business from the owners through a buy-out.

A press release said that Managing Director Tom Mander, Technical Director Andrew Du Plessis and Finance Director Adam Shaw have completed the deal. “This is another major milestone in the history of AWI and gives us the platform to capitalize on recent growth and massive export opportunities,” Mander said. He noted that the owners have over 45 years’ combined experience of working here. “It was a natural progression for us to step forward and take the business on, with previous Managing Director Mark Venables moving to Chairman for the next five years and R&D Director Angus Hogarth taking a consultancy role.”

Per the company website, this marks the third such MBO change for the 77-year-old company. In 1991, the management team of Bill Graham, Len Deeley, Martin Cobb, Paul Wiltshire and Tony Tonks led a management buy-out. Mark Venerable joined the company in 2010 and became managing director in 2011, with Graham becoming chairman. In 2013, the management team of Venerables, Angus Hogarth, Ian Fitzgerald and Pete Lambe bought the company. “There’s something very special about this business and this MBO ensures we maintain and cultivate this for the next 75 years,” Manser said.

The company notes that it has a solid global customer base that is 6,000 strong. It has targeted annual sales of £15 million, which would be a new high. Supporting that goal, the company plans to make investments of nearly £1 million this year that will include new wet drawing and single-hole dry drawing machines, an annealing line spooler and several hundred metric tons of raw material.

AWI has two state-of-the-art factories and a network of 45 international offices. It supplies sectors that include aerospace, nuclear, automotive, chemical, electronic, medical and oil and gas.

Venables said that he is delighted that the new owners have come from within the company. “The new management team are well versed in the Alloy Wire International culture and will also bring a youthful exuberance, passion, and eagerness to innovate traditional processes and industry norms. They have already ring-fenced significant investment for the next five years and are keen to work on increasing our international network of agents, with discussions currently taking place on establishing a bigger presence in Egypt and the Middle East. ... I’m really looking forward to seeing how Tom, Adam and Andrew take the business forward.”

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Last modified on February 6, 2023

Superior Essex reports agreement to acquire Germany ‘s Lacroix + Kress GmbH

Superior Essex Inc. has signed an agreement to purchase Lacroix + Kress GmbH, a leading oxygen-free copper (OFC) drawing manufacturer in Europe, from Mutares SE & Co. KG.

A press release said that the strategic acquisition further solidifies a commitment by Superior Essex to the growing EV market. OFC, it noted, is a key component in electric vehicles (EVs). The deal will allow Superior Essex to create vertically integrated operations in Europe between its magnet wire businesses and a joint manufacturing site in Bramsche, Germany. A second plant in Neunburg vorm Wald, Germany, will also expand the specialty wires offerings. The two plants have approximately 250 employees.

“This is an exciting investment into not only the future but also the present,” said Klaus Borstner, president of Essex Furukawa Magnet Wire Europe, Essex Energy Italy and Global IVA Enamels in Europe and China. He believes the acquisition will create synergy between the plants and more rapidly advancing innovation for the automotive, energy, and industrial industries. “Having the two plants share a location in Bramsche can immediately improve efficiencies, and increase innovation, while the new location in Neunburg vorm Wald allows us to expand our product portfolio. ... We believe that this acquisition will help add value to our existing customers as well as create new opportunities as we honour the existing relationships that originated with Lacroix + Kress.”

The sale of Lacroix + Kress to Superior Essex follows Mutares’ exit strategy to find the best new owner. “We believe that Superior Essex can leverage significant synergies not only due to the already strong business relationship between the two companies but also due to their shared local presence in Central Europe,” said Johannes Laumann, CIO of Mutares SE & Co. KGaA.

Both Superior Essex and Lacroix + Kress were previously affiliated through a European Joint Venture with Nexans in 2005. This acquisition brings the two companies once again under the same ownership. The transaction is expected to be completed during the first quarter of 2023.

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Last modified on February 6, 2023

Messe Düsseldorf reports new Turkey event; 1st time offer for wire 2024 exhibitors

Messe Düsseldorf, the world’s largest organizer of trade events for the wire and cable industry, announced a new investment that will see it be active in Turkey as well as an offer for 2024 wire Düsseldorf exhibitors.

A press release said that on May 24-27, 2023, Messe Düsseldorf will hold two new trade fairs—wire Eurasia and Tube Eurasia—for the first time in Istanbul. They will initially be run as an investment business venture during two Turkish trade fairs: Wire Tech Istanbul and Tube + Steel Istanbul. These two events are held by Tüyap Fair Istanbul, a leading Turkish trade fair organizer and venue operator since 1979, at the Tüyap Fair Convention and Congress Center. From 2025 on, wire and Tube Eurasia will be organized as independent trade fairs at two-year intervals.

By way of this cooperation Tüyap and Messe Düsseldorf strengthen their concentrated expertise in the metal fairs segment. “The expansion of our metal trade fair portfolio towards Turkey is important and necessary to ensure continued growth in the market and to match our exhibitors’ changed needs,” said Daniel Ryfisch, director of Messe Düsseldorf’s wire, Tube and Flow Technologies portfolio. More information will soon be accessible at www.wire-eurasia.com.

Messe Düsseldorf also announced that, for the first time, early-bird discounts will be offered to exhibitors at wire Düsseldorf, to be held April 15-19, 2024. The discount will be available for wire 2024 at www.wire.de/1330 (German link) and www.wire.de/2330 (English link). wire 2022 saw 1,822 exhibitors from 50 countries presented on around 93,000 sq m for the combined wire and tube events.

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Last modified on February 6, 2023

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