Product category:
Cables and Wires
News Release from: B3 Cable Solutions
Edited by the Electronicstalk Editorial
Team on 04 February 2008
Acquisition to create European comms
cable giant
Deal will make B3 the third largest manufacturer of metallic telecommunication cable in the world and the largest outside the US market.
B3 Cable Solutions has entered into exclusive negotiations with Nexans to purchase its telecommunications and railway signalling cable business in Santander, Spain The deal is expected to be completed at the end of Q1 2008, subject to due diligence and finalisation of the necessary agreements and approvals
This article was originally published on Electronicstalk on 24 Apr 2002 at 8.00am (UK)
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On completion B3 will become the third largest manufacturer of metallic telecommunication cable in the world and the largest outside the US market.
This deal would represent the fourth acquisition by the group since the beginning of 2006 and makes B3 the fastest growing cable manufacturer in the world.
This acquisition follows hard on the heels of the B3's announcement in November 2007 that it had agreed to purchase UM Cables, one of India's leading manufacturers of optical fibre and copper telecomms cables employing 140 people and with a turnover of US $60 million.
The Manchester and Ireland acquisitions carried out in 2006 were the first milestones in B3's strategy of building a successful company through a combination of organic growth and acquisition.
The modern and well equipped operation in Santander serves high profile telecommunications companies across mainland Europe.
It employs approximately 340 people for Eur 75 million of turnover and Eur 29 million of capital employed.
Significantly for B3, the business also has an impressive rail company client list and the acquisition of the business will enable B3 to further grow its market share in the rail cabling sector.
Steve Ellis, Managing Director at B3 is excited by this acquisition: "The acquisition of the Santander business is a significant development for the Group and further demonstrates our commitment to growth through selective acquisition".
"Our UK and Ireland operations are established as service providers to energy and telecommunications businesses in the UK, this acquisition will strengthen and expand our customer base across mainland Europe".
"It is also strategically important to us as it further diversifies our addressable markets through Santander's strong position in the railways signalling market".
B3 will make a further announcement on of completion of the sale.
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