General Cable Corp. announced today that it has agreed to acquire Norddeutsche Seekabelwerke GmbH & Co. KG (NSW), l...
April 27, 2007
General Cable Corp. announced today that it has agreed to acquire Norddeutsche Seekabelwerke GmbH & Co. KG (NSW), located in Nordenham, Germany from Corning Inc.
The transaction is expected to close on Monday. NSW had revenues of approximately US$120 million in 2006.
NSW is a global supplier of offshore communications, power and control cables as well as aerial cables for power utility communication and control networks.
The company has been in operation since 1899 and is situated in a location with a deep-sea pier capable of loading cable laying ships directly from their production facility on the North Sea in northern Germany.
NSW has manufactured and installed submarine projects throughout the world, including one of the world’s longest hybrid submarine communications cable systems extending 8,600 kilometres linking 15 countries.
“Offshore cable demand is strengthening driven by offshore oil and gas exploration, renewable energy, as well as traditional power requirements to inter-coastal and island areas,” Data General said in statement.
Also, after many years of maintenance level spending by global telecommunications carriers for submarine fiber optic cable, network capacity utilization rates have begun to increase.
With global demand for voice, video, and data increasing, telecommunications carriers are now looking to reinvest and add capacity in the global submarine network.