EoW September 2008

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EuroWire – September 2008 11
english corporate news
Nexans has signed an agreement for
the acquisition of the Italian company
Intercond, a European manufacturer
of special cables, mainly for industrial
equipment including subsea activities.
The acquisition of this company, which
had total sales of €60 million (at current
metal prices) in 2007 and currently
employs 150 people, complements
Nexans’ existing business units based
in Europe.
The €90 million Enterprise Value
agreed by both parties corresponds
to five to six times the expected 2008
EBITDA (before synergies).
This operation will be accretive in the first
full fiscal year.
“This acquisition fits totally into Nexans
strategy by increasing the portion of our
business in high value-added special
cables,” said Gérard Hauser, chairman and
CEO of Nexans.
Nexans – France
Fax: +33 15669 8484
Email:
Website:
NIEHOFF - VNIIKP
cooperation
Maschinenfabrik Niehoff and
All-Russian Scientific Research and
Development Cable Institute VNIIKP
with the associated Trade House of
VNIIKP have concluded a cooperation
agreement.
From July 1st 2008 the Trade House
of VNIIKP will act as an adviser for
Niehoff in the markets of Russia,
Belarus, Armenia and Uzbekistan
with the objective of further contact
development and intensification
between Niehoff and the companies
in this economic area, particularly
companies of the wire and cable
industry.
VNIIKP has earned international
acceptance through its performance
as scientific research and test centre
for the development of cables
and cable technologies and its
responsible activities in the area of
standardisation and certification.
In practice the agreement will mainly
be realised via close cooperation
and information exchange between
VNIIKP and Niehoff of Russia, founded
in 2005 in Moscow.
At present this branch consists of nine
native speaking Russian employees,
responsible for customer service,
installation and commissioning of
machinery, spare parts supply and
after sales service.
Maschinenfabrik Niehoff GmbH
& Co KG – Germany
Fax: +49 9122 977 155
Email:
Website:
Maschinenfabrik Niehoff GmbH
& Co KG – Russia
Fax: +7 495 230 5539
Latest acquisition by Nexans