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Statistics on 10 major events of cable industry enterprises in 2017

  • Categories:Industry News
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  • Time of issue:2019-07-25
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Statistics on 10 major events of cable industry enterprises in 2017

  Looking back at 2017, there have been many major events in the cable industry. As far as cable companies are concerned, in this year, mergers and acquisitions and business developments have occurred frequently. It is not uncommon to sell business, withdraw from the industry, and change the development route. The cable network (www.cableabc.com) has sorted out this and counted 10 important events.

  1. Prysmian acquires General Cable for $3 billion and will also seek three additional acquisition targets.

  On December 4, 2017, Prysmian Group and General Cable Co., Ltd. announced that the two parties have reached a final merger agreement. Prysmian will acquire general-purpose cable for $30 per share in cash, with a total transaction value of approximately 3 billion. US dollar (including debt). Shortly after the deal was reached, Prysmian CEO Valerio Battista announced that it would also look for three other mid-sized groups, one in Asia, one in North America and one in other regions. One of the acquisitions is expected to reach an agreement in the next few months.

  2. Korea LS Cable acquired the cable factory of Superior Essex in the United States.

  On March 30, 2017, South Korea's LS Cable said it would acquire a cable plant in North Carolina from Superior Essex in the United States with an investment of US$24.6 million.

  3. Nexans Full Power Holdings Japan High Voltage Cable Company

  In early July 2017, the news reported that Nexans acquired the remaining shares of Japan's high-voltage cable company from its partner, Visteon Japan, and since then, Japan's high-voltage cable company has become a wholly-owned subsidiary of Nexans.

  4. Smart Energy joins hands with controlling shareholders to acquire Jinghangan

  On July 6, 2017, Far East Smart Energy Co., Ltd. (abbreviation: Smart Energy Stock Code: 600869) announced that it had joined hands with the controlling shareholder Far East Holding Group to acquire Beijing Jinghang with cash of RMB 729.3 million and RMB 70.7 million respectively. An Airport Engineering Co., Ltd. has 51% and 49% equity. Rapidly expand the domestic military and civilian integration of the general aviation industry and the “Belt and Road” airport infrastructure construction.

  5. Baosheng Technology Innovation Co., Ltd. acquires 60% equity of Baosheng (Shanghai) Cable Technology

  On January 4, 2017, Baosheng Technology Innovation Co., Ltd. signed an agreement to acquire the 60% equity of Baosheng (Shanghai) Cable Technology held by Yalong Cable. In view of the fact that Yalong Cable has not yet been funded, Baosheng ( Shanghai) Cable technology has not been actually operated, and the transaction amount is zero.

  6. Wanma shares subsidiary 19.53 million purchased 4% equity of Lianfei Optical Fiber Co., Ltd.

  On June 30, 2017, Tianmao Communication Co., Ltd., a subsidiary of Zhejiang Wanma Co., Ltd., planned to purchase a 45% stake in Zhejiang Lianfei Optical Fiber Cable Co., Ltd. (hereinafter referred to as “Lianfei Optical Fiber”) held by Putianle Cable for 19.53 million yuan.

  7. Hengtong Group signed a joint venture with Huaxi Group

  On May 23, 2017, Hengtong Group and Jiangsu Huaxi Group Co., Ltd. officially signed a contract to establish Jiangsu Hengtong Ocean Engineering Co., Ltd. in Zhangjiagang Free Trade Zone, to build a headquarters economy and R&D center in the field of marine new energy and military-civilian integration industry. Marine industry full value chain system service provider.

  8. Zhongchao Holding's main assets, the teapot business was abandoned

  In October 2017, Zhongchao Group transferred its 368 million shares of Zhongchao Holdings (002471, SZ) to Shenzhen Xintenghua at a price of 5.19 yuan/share. After the transaction was completed, Huang Jinguang became the new real controller of the listed company. . It plans to divest the teapot business and inject new assets into the daily chemical products of the real controller.

  9. Han Cable Co., Ltd. invested in foreign investment to establish a wholly-owned subsidiary in Singapore

  On June 19, 2017, Qingdao Han Cable Co., Ltd. held the sixth meeting of the fourth board of directors, and agreed to set up a wholly-owned subsidiary in Singapore with a capital of 1 million Singapore dollars. Temporarily named as Hanhe Cable Company of Singapore, its business scope includes cable and accessory product export, cable project construction, cable raw material procurement, and cable and accessory product technology introduction.

  10. Ruikang shares sell 100% equity of two cable subsidiaries

  On December 28, 2017, Ruikang Co., Ltd. announced that Ruikang Wenyuan Cable Co., Ltd. (Ruikang) intends to sell 100% equity of Wuxi Yude Cable Technology Co., Ltd. and Wuxi Sunan Cable Co., Ltd., a wholly-owned subsidiary. The total sale price was 313 million yuan.