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India's Sterlite Tech will acquire Italy-based cable manufacturer Metallurgica Bresciana
for about €47 million in cash.
Sterlite Technologies' strategy is to have local manufacturing facilities
where it has customers.
Italian fiber optic cable manufacturer Metallurgica Bresciana produces special precision fiber optic cables and special copper cables
for communication applications.
Metallurgica reported 2017 revenue of €48.
7 million and net income of €4.
2 million
.
The acquisition will expand Sterlite Tech's market share in Europe, bring new Tier 1 customers, increase its product portfolio, and enhance its flexibility and capabilities to better serve the European market
.
"The acquisition of Metallurgica Bresciana will expand Sterlite Tech's fiber optic cabling business, enhance our access to key European markets and add dedicated cables to our products," said
Anand Agarwal, CEO of Sterlite Tech.
Sterlite Technologies has global-scale manufacturing facilities in India, China and Brazil, as well as two software delivery centers
in India.
India's Sterlite Tech will acquire Italy-based cable manufacturer Metallurgica Bresciana
for about €47 million in cash.
Sterlite Technologies' strategy is to have local manufacturing facilities
where it has customers.
Italian fiber optic cable manufacturer Metallurgica Bresciana produces special precision fiber optic cables and special copper cables
for communication applications.
Metallurgica reported 2017 revenue of €48.
7 million and net income of €4.
2 million
.
The acquisition will expand Sterlite Tech's market share in Europe, bring new Tier 1 customers, increase its product portfolio, and enhance its flexibility and capabilities to better serve the European market
.
"The acquisition of Metallurgica Bresciana will expand Sterlite Tech's fiber optic cabling business, enhance our access to key European markets and add dedicated cables to our products," said
Anand Agarwal, CEO of Sterlite Tech.
Sterlite Technologies has global-scale manufacturing facilities in India, China and Brazil, as well as two software delivery centers
in India.
