EoW January 2010

corporate news

LS Cable aims to top subsea cable sales

wire Southeast Asia 2009 ended on a high note, having attracted around 5,000 highly relevant trade visitors and buyers from 57 countries. Approximately 30 per cent of visitors came from outside Thailand, with a significant number of visitors travelling from China, India, Japan, South Korea and the Middle East. A total of 305 companies from thirty countries exhibited at the three-day show, with national pavilions for exhibitors from Austria, China, France, Germany, Italy, Singapore and the USA. Joachim Schaefer, managing director of Messe Düsseldorf GmbH, commented: “Despite the global economic downturn, many companies have not lost sight of their intention to penetrate the regional markets of Asia, in particular the southeast Asian region.” Following the success of the 2009 event, wire Southeast Asia will return to Bangkok in autumn 2011. Show a success, despite the gloom

In September 2009 a chief executive of LS Cable announced that the company is looking to achieve upwards of 1 trillion won in sales of subsea cables in 2015, topping the global market now dominated by three European companies. “We are targeting 700 billion won to 1 trillion won in revenue from subsea cable sales in 2015, and to become the global number one firm in the market that year,” said CEO Son Jong-ho at the company’s plant in Donghae City, Gangwon Province. The company has already started production of submarine cables at the 180 billion won ($148.8 million) plant, the first of its kind in Korea and the fourth in the world. “A revenue of 700 billion won would give the company about a 35% share in the global subsea cable market,” Son said. The global subsea cable market, which amounted to 1.5 trillion won last year, is expected to grow 24% to 25% annually. Son expects the increasing renewable energy market to boost demand for power cables linking offshore wind farms with mainland. Demand is also rising for submarine cables, he added. LS is currently working on a 105-kilometre subsea power and communications cable system to connect Jeju and Jin Islands. LS Cable – Korea Website : www.lscable.com

Messe Düsseldorf Asia Pte Ltd – Singapore Fax : +65 6332 9655 Email : wire@mda.com.sg Website : www.wire-southeastasia.com

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EuroWire – January 2010