wiredinUSA August 2014

INDEX

Cables get AEO accreditation

Italy favors aerial

LS Cable & System has obtained AEO (authorized economic operator) accreditation from the Korea customs service. To date, LS Cable & System is the only cable maker in Korea that has the accreditation and gains with it customs clearance benefits in Korea and in those countries with a mutual recognition agreement. The AEO system is an international logistics standard established by the world customs organization to facilitate international trade while also ensuring security. The system is implemented in around 60 countries including the US, Canada, and the EU. Customs authorities in each country select accreditation targets by investigating and reviewing compliance with laws, safety management standards, internal controls, and the financial integrity of importing and exporting companies. Once accredited as an AEO, a company can benefit from simplified customs procedures, preferential customs clearance on inward cargoes and unlimited security provision. AEO accredited companies also receive benefits of the same standard in eight countries including China, Japan and the US with which Korea has entered into mutual recognition agreement.

LS Cable & System has won an order to supply electric cables to Italy, believed to be a first among non-European suppliers. The aerial cables, worth $8.17 million, will be supplied to Terna SpA, an Italian electricity transmission system operator. Electricity companies in Italy, France, and Germany are known for their exacting quality standards and strict construction project management. Lee Heon-sang, LS Cable & System’s head of overseas sales, said: “Terna officials are highly satisfied with our products and service to a degree that they keep asking us to take part in future biddings. We will expand toward other higher value-added products such as underground and underwater cables.” The demand for electrical cables is steadily on the rise due to urbanization and the rising demand for more electricity. In regions like Europe and North America, in particular, most service areas need to reinstall their cable lines after 30 to 40 years of replacement cycle. While most Northern European countries prefer to replace the lines with underground cables, those in Southern Europe, including Italy, are making use of existing transmission towers with aerial cables.

ASIA / AFRICA NEWS

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