EoW May 2013

News Corporate

An even stronger partnership between Niehoff and HFSAB

and take-up of insulated data and special cables, automobile wires and power cables. The Niehoff Group has more than 700 employees in all major markets around the world. The products and services it offers range from development and design to the turnkey delivery of fully-fitted cable factories. Both companies offer expert advice and a comprehensive after-sales service across the world. Maschinenfabrik Niehoff Gmbh – Germany Website : www.niehoff.de H Folke Sandelin AB – Sweden Website : www.hfsab.com

the fact that their global customer bases are identical. HFSAB supplies lead extrusion systems and CRRS (cable repair and recovery systems) for subsea cables, underground cables, high-voltage cables and cables for the oil and gas industry. HFSAB also offers upgrades for existing systems. Maschinenfabrik Niehoff develops and manufactures plant and machinery for the drawing, annealing, galvanic coating, bunching, take-up, rewinding and braiding of wire made of non-ferrous metals. The production programme also includes machinery for the stranding, winding

The Niehoff Group has been working together with HFSAB in international sales outside Europe for more than two years, with the sales and service department helping to market HFSAB products. The Niehoff Group acquired shares in HFSAB with retroactive effect from 1 st January 2013. The management of HFSAB in Motala, Sweden, will remain under the leadership of Derek Russell, CEO, and Mats Larsson, CFO. Production and development are to be maintained and expanded at the existing site, and HFSAB will continue to run and be developed as an independent brand. What connects the Niehoff Group and HFSAB is that both are premium manufacturers of technologically cutting-edge and high-quality products, constantly seeking to develop these further, and can offer a reliable service worldwide for their respective products. They have workforces with first-class training who boast outstanding technological expertise and are fully and squarely behind the products of their companies. Cable company buyout A Manchester, UK, distribution operation has been bought out of administration. Clynder Cables, a producer of single-core, LSHF and defence-standard cables and including a bespoke service, was placed under the control of administrators from KPMG in mid-March. The company operated from a base in the city and a manufacturing site in County Durham. On appointment, administrators made 15 employees redundant. Administrators have now agreed a deal with Davro Investments, which owns Manchester-based wire and cable maker Permanoid, in an undisclosed deal which has saved six jobs. Clynder Cables’ operation in Bishop Auckland will continue to be run by administrators as they market the business for sale. Joint administrator Howard Smith said: “Clynder Cables has suffered in recent months due to a steep decline in order volumes, especially for their high margin products. This, coupled with high fixed costs, meant the company could no longer pay their debts as they fell due.” The two companies are also connected by

Cash raised by power grid tenders

Turkey has sold its four remaining electricity grids, completing the last stage of a complete privatisation of the electricity distribution sector. The final negotiations on the privatisation of four electricity distributor companies – Ayedaş, Toroslar, Van Gölü and Dicle – raised $3.457 billion, almost $3 billion coming from Enerjisa, which won the tender for the two largest grids. Enerjisa, jointly-owned by Turkey’s second-largest company, Sabancı, and German energy giant E.ON, placed the highest bids for the largest of the two grids, offering $1.22 billion for Ayedaş and $1.72 billion for Toroslar Elektrik.

Permanoid Ltd – UK Website : www.permanoid.co.uk

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May 2013