Nexans Yanggu New Rihui Cable Opening Ceremony Held in Shandong

November 29, 2012, Liaocheng, Shandong — Nexans, a worldwide expert in the cable industry, officially held the opening ceremony of its new Joint-Venture Nexans Yanggu New Rihui Cable in Liaocheng. The joint venture was inaugurated September 1, 2012 and its acquisition transaction is concluded by Nexans based on the power cable business of Shandong Yanggu Cables Group in china. The creation of the new Joint-venture will further reinforce Nexans’ market position in China and even in Asia-Pacific region, as well as further realize its development strategy in China and innovate with partners. 

 
The opening ceremony received supports from French Embassy, regional and local governments of Shandong. Mr. Vincent PERRIN, Commercial Office Counselor of the French Embassy, Mr. Meng Jianxin, inspector with the Shandong Provincial Commercial Department, Mr. Tian Zhongjun, Secretary of the Party committee of Yanggu, Mr. Nicholas Ballas, Executive Vice President of Nexans Asia Pacific, Mr. Satrijo Tanudjojo, Country President of Nexans Greater China, Mr. Li Mingsuo, Chairman of Shandong Yanggu Cables Group and Mr. Xia Xubin, General Manager, Shandong Yanggu New Rihui Cable participated in the opening ceremony. They witnessed the historic moment along with customers, partners and all employees.
 
As a complementary industry for economic construction, wire and cable (W&C) is important and widely used in all sectors of the national economy. China’s wire and cable market has gained sustainable growth in the past years. 
 
“China is one of world largest energy infrastructure markets and is still in a high-growth stage,” said Nicholas Ballas, Executive Vice President, Nexans Asia Pacific. “The creation of the Joint-Venture will further empower the development of China energy infrastructure. And the creation of the Joint-Venture cannot success without supports from all levels of governments. Nexans will continue to develop in the China market, innovate with our partners and fulfill our commitment.”
 
Nexans concluded its acquisition of a 75% stake in the Shandong Yanggu New Rihui joint-venture previously. This acquisition transaction is based on the power cable business of Shandong Yanggu Cables Group in china, which gives Nexans a strategic footprint in the rapidly growing Chinese Energy Infrastructure market. The leading position of Nexans in the rapidly growing Chinese Energy Infrastructure market is expected to be reinforced by the LV, MV and HV manufacturing facility solid partnership with key customers and authorities.
 
Nexans Yanggu New Rihui Cable will be a major supplier to State Grid of China Corporation for 110kV and 220kV, a major supplier to Shangdong and North China for MV/LV cables and a qualified supplier in Oil & Gas and power generation markets.
 
“Nexans has been in China for over 20 years, and we have strong confidence in the development of Nexans business in China,” said Mr. Satrijo Tanudjojo, Country President, Nexans Greater China. “Since entering China market in 1980s, Nexans China has become a focus of the group concern. The creation of Nexans Yanggu New Rihui Cable marks an important milestone for the strategic market, the JV plant can fully grasp Nexans’ advanced management experience and expertise, combine it with the local advantages of Yanggu Cable Group. We are hoping to set an an example of best practice in Nexans group as well as developing it to a top tier cable company in China and across Asia.
 
At the opening ceremony, Mr Li Mingsuo, Chairman of Shandong Yanggu Cables Group, said cooperation between his group and Nexans will further reinforce their positioning in the market and better serve China and Asia-based customers and realize win-win situation.
 
During the 12th Five-Year Plan period, driven by intelligent power grid construction, railway and subway construction, wind power, communications, urbanization trend, economics of the electro-mechanical industry and State relevant policies, China W&C industry is facing good development opportunity. As a global cable leader, the move of setting up a JV between Nexans and Shandong Yanggu Cable Group undoubtedly meets the market development need. Products of Nexans Yanggu New Rihui Cable will cover UHV, HV, MV and LV cables. It will be built into the Asian largest W&C manufacturing base to further meet the demands for high quality cable from China and other emerging markets.
 
About Nexans 
With energy at the basis of its development, Nexans, worldwide expert in the cable industry, offers an extensive range of cables and cabling solutions. The Group is a global player in the energy transmission and distribution, industry and building markets. Nexans addresses a wide series of market segments: from energy and telecom networks to energy resources (wind turbines, photovoltaic, oil and gas or mining…) to transportation (shipbuilding, aerospace, automotive and automation, railways...). Nexans is a responsible industrial company that regards sustainable development as integral to its global and operational strategy. Continuous innovation in products, solutions and services, employee development and commitment, customer orientation and the introduction of safe industrial processes with limited environmental impact are among the key initiatives that place Nexans at the core of a sustainable future. With an industrial presence in 40 countries and commercial activities worldwide, Nexans employs 25,000 people and had sales in 2011 of 7 billion euros.
 
 
 

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