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S/Superior Essex

Superior Essex Announces Acquisition and Expansion Of IVA Enamel Manufacturing into China

2010-10-18 16:16
  • English

 

ATLANTA--(BUSINESS WIRE)--Superior Essex Inc. announced today the acquisition of a 70% majority ownership in Changzhou Olong Electrical Insulating Materials Co., Ltd. (‘Olong’), located in Changzhou, China. Olong is a leading Chinese producer of enamel coatings used in the manufacture of copper and aluminum winding wire for the electrical motor, transformer and power generation industries.

Superior Essex Inc., a subsidiary of LS Cable, is currently the world’s largest manufacturer of winding wire and, through its IVA operations, the world’s second largest manufacturer of enamel coating for winding wire applications. The acquisition of Olong will add strategic enamel manufacturing capabilities in China, the world’s largest and fastest growing winding wire market, and will complement existing IVA enamel production operations serving the European market from Meyzieu, France and the North American market from Ft. Wayne, Indiana.

The Company intends to operate the acquired business under the IVA name and expand the current operations to provide vertical capabilities to service the requirements of Superior Essex’s China magnet wire operations as well as certain of LS Cable’s requirements.

Valéry Mercier, VP Global Enamel, stated “this investment is a key strategic advancement for our global enamel capabilities. The combination of the Superior Essex IVA technology and enamel expertise with the manufacturing and distribution capabilities of Olong in China should yield exceptional growth opportunities for our global operations. We are also excited about developing Olong’s existing customer base by servicing them with our best quality product and service.”

About Superior Essex Inc

Superior Essex Inc. is a subsidiary of LS Cable and part of the LS Corp Group. LS Cable is the world’s third largest Wire and Cable company with consolidated revenues in excess of $5 billion annually.

Superior Essex manufactures a broad portfolio of wire and cable products with primary applications in the communications, magnet wire and related distribution markets. It is a leading manufacturer and supplier of copper and fiber optic communication wire and cable products to telephone companies, distributors and system integrators; a leading manufacturer and supplier of magnet wire (including related enamel coating materials) and fabricated products to major original equipment manufacturers (OEMs) for use in motors, transformers, generators and electrical controls, and a distributor of magnet wire, insulation, and related products to smaller OEMs and motor repair facilities.

Contacts

Superior Essex
John Dobson, 86 21 52531100