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wiredInUSA - October 2016
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Leoni has purchased 51 percent of the
Chinese wiring harness manufacturer
Wuhan Hengtong Automotive, so
becoming a supplier to the Dongfeng
Group and assuring its future growth in the
Asian market.
Wuhan Hengtong’s 13,000m
2
harness
plant is located approximately 700km
west of Shanghai, and produces wiring
systems for local car manufacturers,
including the Dongfeng Group, China’s
second largest car producer. It will also
supply DPCA, a joint venture between
Dongfeng and the French manufacturer
PSA.
Closing procedure is anticipated within
the next three months.
Taking a major share
NKT Cables will acquire ABB’s high voltage
cable system business, part of the ABB
power grids division currently undergoing
a strategic review.
NKT Cables designs, manufactures and
supplies power cables for low, medium
and high voltage solutions, mainly for the
alternating current sector. It has major
production facilities in Europe and China
as well as sales offices around the world.
“We are combining two strong cable
portfolios rooted in a shared Nordic
heritage that will be more competitive
on a larger scale under NKT Cables’
ownership, while maintaining access
to supply through a long-term strategic
partnership,” said ABB CEO Ulrich
Spiesshofer.
“ABB’s high voltage cable business will
add considerable strength to our portfolio
and bring us a world class manufacturing
operation. We will leverage the
technology, domain competence and
highly skilled workforce to grow this
business,” said Michael Hedegaard Lyng,
president and CEO of NKT Cables. “We
look forward to ramping up our long-term
partnership that will serve future projects
all around the world.”
High voltage acquisition