Arcole, a French private equity fund, has made a majority investment in Setic in partnership with longstanding shareholder and CEO Thierry Collard, who will continue in his current role.

A press release said that the investment will present a new phase of growth for Setic, a global leader in designing and manufacturing machinery for the wire and cable industry that is based in France in Roanne and Paris. The strategic investment aims at accelerating Setic’s development and enables a drastic deleveraging. “The company is thus in a very good position to capitalize on the favorable market trends anticipated in the coming years.”

Setic will fully embrace its role as a French industrial leader at the service of energy transition. The first steps on this path include enhancing the sales structure of the U.S. subsidiary, upgrading facilities in Roanne with new R&D capabilities, and rebranding the group as “Setic Pourtier” on the occasion of its 75th anniversary, combining the legacy of both historical brands. The presence of Arcole will not have an impact on customers.

Collard said that he was pleased with the deal. “I am delighted to have secured the redeployment of Setic Pourtier, keeping ownership in French hands and ensuring a promising future for our team while consolidating our growth trajectory that has taken us from a period of crisis to outstanding financial performance in just two years,” he said.

“We are thrilled about this investment, that gives Arcole the opportunity to support an industrial company with a French footprint and a global reach, based on a century-long legacy of technical excellence and innovation,” said Arcole Managing Partner Renaud Sueur. “I am very happy to partner with Thierry Collard, the CEO of Setic Pourtier, whose experience and knowledge of the market have been decisive in our will to invest in the Group.”

Bekaert and Edison Next have signed a 12-year on-site solar power purchase agreement (PPA) at the Bekaert plant in Sardinia, Italy.

A press release said that the 6.1 MW solar installation marks another major milestone in Bekaert’s sustainability strategy, Creating a Better Tomorrow. The PPA will see the installation of a photovoltaic system at the Bekaert plant in the province of Cagliari, Sardinia. The solar installation is capable of meeting more than 20% of the plant’s current energy requirements.

The photovoltaic system at the Sardinia plant will be completed and operative in 2025. Edison Next will finance, develop and manage the installation. Covering an area of about 23,000 sq m, the system is designed to produce more than 11.2 GWh a year and reduce annual emissions of about 3,000 metric tons of CO₂. Bekaert Sardinia expects to self-consume 93% of the renewable electricity generated.

“This state-of-the-art solar project at Bekaert’s Sardinia plant incorporates trackers that follow the path of the sun to optimize renewable energy production,” said Michael Hamilton, VP Procurement Commodities Category at Bekaert. “It will accelerate our sustainability ambitions as well as make us less dependent on energy price inflation. Since opening the solar plant in Burgos, Spain, last year this marks a next milestone to achieve the goal of reducing our greenhouse gas emissions by 46.2% by 2030.”

“We are proud to be able to contribute to the sustainability goals of Bekaert, one of the Italian, European and global leaders in the steel sector,” said Marco Steardo, Industry Director of Edison Next. “The development of this large photovoltaic system in fact marks an important step in the decarbonization path of Bekaert Sardinia and the Bekaert Group in general towards their ambition of net zero by 2050.”

South Korea’s Taihan Cable & Solution announced that it plans to set up a specialized test facility for HVDC (High Voltage Direct Current) cable at one of its main production sites in Dangjin.

A press release said that the dedicated test facility will be built on approximately 7,000 sq m of unused land at the Dangjin plant, which is one of Taihan’s main production sites. The construction aims to be completed within the first quarter of next year. Taihan plans to equip the facility to be able to simultaneously test two lines of HVDC cables, including both land and submarine cables. Specifically, the facility will be capable of conducting long-term reliability tests (PQ Test), which can take more than a year, and Temporary Over Voltage (TOV) tests, recently adopted as a mandatory test item for international HVDC cables. This will complete the infrastructure needed to perform internationally recognized certifications.

In other news, Taihan Cable & Solution reported on Feb. 22 that it had won a project for a 500 kV EHV power project from the Electric Power Systems Engineering Company, a joint venture of the Egyptian government. The project involves linking an existing substation and a new HVDC converter station in the Badr region, located in the northeast of Egypt, with underground power cables. Taihan will supply 500 kV HVAC cables and oversee the project management.

“With this order, Taihan has made its first entry into the Egyptian EHV market,” the release said. It noted that 500kV is the highest voltage used in Egypt. “Taihan succeeded in pioneering the market, breaking through the competition not only with local companies but also with leading global companies.”

Yangtze Optical Fibre and Cable Joint Stock Limited Company (YOFC) recently completed the acquisition of RFS Germany and RFS Suzhou (RFS, Radio Frequency Systems), which it described as a landmark event in its strategy for global expansion.

A press release said that the transaction was celebrated with a handover ceremony featuring a video address by YOFC President and Executive Director Dan Zhuang. Senior Vice President Lijing Zhou, Vice President Lei Nie, and Senior Human Resources Director Xing Fan were among the key attendees. The takeover represents another crucial step in YOFC’s global expansion, poised to significantly enhance its overseas production capacity and drive forward the development of the international cable market.

YOFC is a leading supplier of optical fiber preforms, fibers and cables as well as offering comprehensive integrated solutions. It supplies optical fibers and cables that are crucial to the communications industry as well as custom-made optical transceivers, specialty fibers, active optical cables, submarine cables, radio-frequency (RF) coaxial cables and accessories to meet the unique needs of its customers. On Feb. 27, it reported that the company had delivered 1 billion fkm of optical fiber.

YOFC has recently expanded its portfolio through the strategic acquisition of RFS Germany and RFS Suzhou, collectively known for their substantial international brand presence and strong customer base. The two entities excel in the R&D, manufacturing, and distribution of specialized RF cables, leakage cables, hybrid cables, and other related telecommunications infrastructure products. Their offerings are critical to a broad spectrum of industries, notably in rail transportation and base station infrastructure. The integration of these acquisitions into YOFC’s operations is set to create a synergistic boost in production capabilities and market outreach, enhancing the company’s competitive edge.

Nexans announced that it has secured a four-year contract from Norwegian energy giant Equinor for turnkey repair services of various cable systems.

A press release said that the agreement will secure the availability of Nexans’ unique and extensive repair expertise that covers all types of existing cables. The contract includes assistance from a team of Nexans experts and the provision of a vessel to meet the intervention requirements. Equinor will manage and operate the contract on behalf of the Pipeline Repair and Subsea Intervention (PRSI) Pool members. The PRSI pool consists of 23 energy companies that cover their offshore pipeline and power cable repair contingency via the pool. The agreement covers approximately 3,000 km of cable and could be broadened.

To ensure Equinor’s assets’ normal functioning, Nexans will provide its unique expertise of performing complex turnkey repairs on all types of cables (XLPE, mass impregnated or oil-filled cables). In the case of a cable system failure, Nexans will offer its expertise in installing and maintaining submarine cable systems by mobilizing highly skilled teams to assess the fault and perform any necessary repairs.