INDUSTRY NEWS
Nexans to acquire Latin American cable manufacturer from Mexico’s Xignux SA Nexans announced that it has entered into a share purchase agreement with Xignux SA of Mexico to acquire Centelsa, a premium cable maker in Latin America, for an undisclosed price. A press release said that Centelsa, based in Colombia, produces cable for building and utilities applications. It was described as an “iconic world class cable maker,” with annual revenues of more than US$250 million and an enterprise value of US$225 million. The closing, subject to regulatory approvals, is expected to take place in the first half of 2022.
of Cali, manufacturing low-voltage cables as magnet wire for applications in motor winding. In 1961, Ceat General of Colombia S.A. was established through the merger with U.S.-based General Cable Corporation and Italy’s Ceat International. It expanded in 1980 with a second plant, then a third in 1993. In 1994, CENTELSA (Cables De Energia Y Telecomunicaciones S.A.) was formed by the merger of Ceat General De Colombia S.A., Facomec and Fadaltec S.A. In 2012, it became part of the Viakable, the cables division of Xignux, a Mexican industrial group. Over the years, Centelsa won numerous awards and certifications. Today, it has a network of strategically located offices to cover the national and international market, thus offering an opportune service.
Hitachi Cable plans to close Pensacola plant and shift production to Mexico
The Centelsa acquisition “is fully aligned with (our) strategic ambition to become a pure electrification player,” said Nexans CEO Christopher Guérin. The addition will further contribute to Nexans’s ability to serve renewable projects in the Andean Region and enhance its capacity in building and energy distribution. “This combination will be the stepstone to grow our best-in-class solutions and unique premium brand,” said Viakable-Centelsa CEO Sergio Valdes. “The Centelsa team has demonstrated, for more than six decades, professionalism in delivering high value to our customers. As a global player in energy transmission, Nexans is a great fit to lead the next phase of growth for Centelsa´s customers and employees. Jointly, there is a promising future ahead.” Centelsa was cited as being the first cable manufacturer in Colombia. Per Centelsa’s website, the company’s origin traces back to 1955, when INCE Ltda (Industria Nacional de Conductores Eléctricos) started its operation in the city
Hitachi Cable has taken a step toward closing its plant in Pensacola, Florida, and moving those operations to Mexico. Per a report in the Pensacola News Journal, Hitachi Cable has filed a notice with the Florida Department of Economic Opportunity to notify the state that it was closing its Pensacola manufacturing operations by the end of next March. The company said in a statement that approximately 300 salaried and hourly workers will be affected by the plant’s closing. In the notice to the DEO, the company said 202 employees at the Pensacola plant would lose their jobs. The plant on Ely Road was built in 1985 and was owned by Coupled Products Inc. until it was sold to Hitachi Cable America in 2008, according to county property records. The plant manufactures components and cables for antilock braking systems and hybrid vehicles.
Medicoil to expand Wisconsin location Medicoil, a division of R&L Spring Company, announced that it has broken ground for a 40,000-sq-ft expansion to its facility in Lake Geneva, Wisconsin.
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