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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.

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.

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.

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.

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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