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wiredInUSA - March 2014
10
30 years
in fiber
Fasteners
acquisition
Fasteners manufacturer Semblex
Corporation has announced its
acquisition by Jinhap Co Ltd of South
Korea.
Jinhap supplies fasteners, cold formed
andmachinedspecial products to the
global automotive industry. Founded
in 1978, Jinhap is a 100 percent
family owned company with annual
revenues of approximately $425m
and employs over 1,200 people. The
company has four manufacturing
plants in South Korea and two plants
in China (increasing to four during
2014).
The sale of Semblex, mandated
by US tax regulations, follows a
comprehensive effort by the previous
owners, Haerther Trust, and company
management to explore future
ownership opportunities that would
enable Semblex tocontinue its current
business direction. The transition of
ownership to Jinhap is believed to
accomplish those objectives and
brings long term stability to the
business. No changes are planned
to the Semblex organization or to the
company’s existing relationships with
its bank, suppliers, product licensors,
or other strategic alliance partners,
including Agrati Group, a major
European fastener company.
Fiber optic cable and accessories
manufacturer AFL is celebrating its
30 year anniversary throughout 2014.
AFL began operations in 1984 in
Spartanburg, South Carolina where
it manufactured optical ground
wire for transmission lines. Through
a combination of steady growth
and acquisition AFL can now offer
solutions for telecom, broadband,
enterprise and electric utility to the oil
and gas, mining and transportation
sectors.
AFL is taking its celebrations into
communities. Through its community
outreach program, AFL associates
are building a Habitat for Humanity
home in Greer. The project, which will
begin 1
st
March 2014 and continue
until mid-June, will be built entirely by
AFL associates, friends and family.
During April, AFL locations around
the world will participate in the 30
Days of Service, giving back to their
communities by participating in an
ACT (AFL community team) service
project, Take Root tree planting or
other outreach initiative. In the fall,
associates and their families will
enjoy a family festival in recognition
of their efforts over the years.
AFL started as a joint venture and
in 2005 became wholly owned by
Fujikura Ltd of Japan.