South Korea’s LS Cable & System announced that an investment of approximately 1 trillion won (about $721.34 million) will be made for its subsidiary—LS Greenlink USA—to build the largest U.S. submarine cable factory.

Per an article in BusinessKorea, the factory will be built on a 396,700-sq-m site along the Elizabeth River in Chesapeake, Virginia. It will have a total floor area of 70,000 sq. m. Construction is set to begin in 2025 and is expected to be completed by 2027. The facility will also feature a 200-m-tall power cable production tower, which it noted would be the tallest of its kind in the world. It will have more than 300 employees.

LS Cable & System will receive about $48 million (some 66.5 billion won) in subsidies and tax benefits from the state government. Including $99 million (some 137.2 billion won) from the Department of Energy (DOE) under the Inflation Reduction Act (IRA), the company has secured a total of $147 million (about 202.7 billion won) in support. “This marks the largest support package for any global cable company operating in the U.S.”

The story cited other company activity, including construction of large cable installation vessels by LS Marine Solutions and the expansion of LS Eco Energy’s submarine projects in Europe. In related news, LS Cable & System also recently announced it is building a new manufacturing plant in Queretaro, Mexico, that will produce large capacity busway systems for both the U.S. and international markets. It will be located on a large site in an industrial complex. Construction is expected to be completed in the first half of 2025.

Nokia announced that it has entered into a put option to sell Alcatel Submarine Networks (ASN)—a leading submarine networks business that it acquired via its prior acquisition of Alcatel-Lucent—to the French State, represented by the Agence des participations de l’Etat (APE).

Per a press release, the company’s website and multiple media reports, ASN is being divested by Nokia as the Finnish business considers it a non-core business. The transaction could happen as soon as the end of this year, subject to customary required approvals.

Based in Nozay, Ile-de-France, France, ASN is one of the world’s largest manufacturers of submarine cable. Its cable manufacturing plant is located in Calais, France. The company notes that it has an installed base of more than 800,000 km of optical submarine systems deployed worldwide.

“This is an incredibly exciting moment for ASN as we undertake the next phase of our development,” said ASN President and CEO Alain Biston. “The French State’s ownership gives us a stable platform to further develop our vertically integrated technology offering. This, combined with Nokia’s retained stake, underscores all parties’ aligned interests in delivering a smooth transition for the benefit of our customers, suppliers and other stakeholders.”

The deal calls for Nokia to retain 20% ownership in the company that would be maintained until a “targeted exit” to make sure that there is a smooth transition. The selling price was tagged at €350 million, although one report said that once company debt was factored in, the net would be about €100 million.

“The proposed sale of ASN to the French State is the result of extensive discussions which concluded that the French State is the most relevant custodian of ASN,” Nokia said in a statement. “The French State, as a stable owner with a long-term interest in the operation and maintenance of critical infrastructure, ensures continuity for ASN customers, employees and partners.”

ASN’s history traces back to the creation of the Submarine Telegraph Company (STC) in 1858. Alcatel Cable acquired STC in 1993, and in 1994 it regrouped submarine activities to Alcatel Submarine Networks, owning 51%. In 2015, ASN became part of Nokia.

Madison, Connecticut, USA – August 1, 2024 – The Wire Association International (WAI), Inc. reports plans to host its fourth Global Continuous Casting Forum (GCCF) for copper and aluminum May 12-15, 2025, concurrently with INTERWIRE 2025 at the Georgia World Congress Center, Atlanta, Georgia, USA.

The conference provides a forum for academics, researchers, metallurgists, and professionals to meet and exchange innovative ideas and information on all aspects of continuous casting. A welcome reception is planned on Monday, May 12, as is an attendee dinner on Wednesday, May 14, 2025.

The Association is currently accepting abstracts for review, a process that remains open until the October 2, 2024, deadline. Submitted presentations should align with one of the following tracks: General; Copper; Aluminum; Lubrication & testing; or Automation & safety. Welcome topics include:

• Casting technologies
• Electrical energy
• Global copper & aluminum markets
• Cost-saving opportunities
• Filtration concepts
• Molten metal
• Combustion Systems
• Furnaces
• Degassing
• Metal flow
• Refractories
• Aluminum & Copper Alloys
• Sustainability

Abstracts should be submitted at: bit.ly/WAIabstracts by October 2, 2024. Accepted authors will be notified by November 7, 2024. Final manuscripts are due February 13, 2025.
Sponsorships are available with details at: https://www.interwire25.com/conference/castingforum
For questions or to secure a sponsorship contact: WAI’s Education Department | This email address is being protected from spambots. You need JavaScript enabled to view it. | Tel.: 203-458-4044.

WAI’s Global Continuous Casting Forum committee members include:
Chairman Chris Tucker, Encore Wire; Richard Baker, Cableforce Consulting; Kurt Breischaft, SDI LaFarga COPPERWORKS; John Hugens, Hugens Metallurgy & Combustion; Martin Lecours, Rio Tinto; Giuseppe Marcantoni, Properzi International Inc.; Juan Sanchez, Freeport McMoran Copper & Gold Inc.; Janusz Sekunda, Prysmian; Patrick Slaughter, Southwire Co.; Florin Teglas, Nexans; and Rob White, Hazelett Strip-Casting Corp.

WAI, founded in 1930, is a not-for-profit association with more than 2,000 individual members in 50 countries. The association serves the educational needs of the wire and cable manufacturing industry through a variety of products and services. WAI manages the Interwire Trade Exhibition and Wire Expo and publishes the Wire Journal International and the Wire Journal International Reference Guide.

Media Contacts: Janice E. Swindells, Director Marketing & Corporate Communications, This email address is being protected from spambots. You need JavaScript enabled to view it., Tel.: 001-203-453-2777, x. 117; Steven J. Fetteroll, Executive Director, This email address is being protected from spambots. You need JavaScript enabled to view it., Tel.: 001-203-453-1777.