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South Korea's LS Cable Group will establish a winding wire production plant in Serbia to expand its business
in the European market.
LS Group announced that its U.
S.
cable manufacturing subsidiary, Superior Essex, will be responsible for the construction of the new plant, investing 18.
5 million euros to build a plant in the Zrenjanin area, about 90 kilometers from the capital Begle, covering an area of 40,000 square meters, and plans to build 42 production lines by the end of this year, with a capacity of 12,000 tons of winding lines, which will be put into operation
next year.
It is reported that LS Cable Group has been actively expanding overseas business
.
Last year, a subsidiary for manufacturing components for electric vehicles was established in Poland and a retail subsidiary
in France.
LS Industrial Systems completed the construction of
a solar power plant and energy storage system in Japan.
LS Cable acquired Atlanta-based Superior Essex in 2008, the largest winding manufacturer and fourth-largest communications wire manufacturer
in North America.
Superior Essex has overseas operations in more than 10 countries, including China, Germany and Italy, and has a market share
of about 20% in the European market.
Since returning to profitability in 2016, Superior Essex has been performing well
.
Last year, its pretax profit was $58 million and its sales were $2 billion
.
It is the only supplier
of motor winding wires for Tesla Motors, an American electric car manufacturer.
South Korea's LS Cable Group will establish a winding wire production plant in Serbia to expand its business
in the European market.
LS Group announced that its U.
S.
cable manufacturing subsidiary, Superior Essex, will be responsible for the construction of the new plant, investing 18.
5 million euros to build a plant in the Zrenjanin area, about 90 kilometers from the capital Begle, covering an area of 40,000 square meters, and plans to build 42 production lines by the end of this year, with a capacity of 12,000 tons of winding lines, which will be put into operation
next year.
It is reported that LS Cable Group has been actively expanding overseas business
.
Last year, a subsidiary for manufacturing components for electric vehicles was established in Poland and a retail subsidiary
in France.
LS Industrial Systems completed the construction of
a solar power plant and energy storage system in Japan.
LS Cable acquired Atlanta-based Superior Essex in 2008, the largest winding manufacturer and fourth-largest communications wire manufacturer
in North America.
Superior Essex has overseas operations in more than 10 countries, including China, Germany and Italy, and has a market share
of about 20% in the European market.
Since returning to profitability in 2016, Superior Essex has been performing well
.
Last year, its pretax profit was $58 million and its sales were $2 billion
.
It is the only supplier
of motor winding wires for Tesla Motors, an American electric car manufacturer.
