Elcowire Group Acquires NKT's Railway Business

HELSINGBORG, Sweden, Sept. 27, 2018 /PRNewswire-PRWeb/ -- The copper wire rod is refined and processed to form drawn wire power, telecom and installation cables, profiles for land and submarine cables, commutators for electric engines and contact wire and other products used in electric powered railways.

Elcowire Group AB has entered into an agreement to acquire NKT's Railway business. Acquiring the Railway business from NKT will strengthen Elcowire Group and give access to a much larger customer base and product portfolio, as well as the required manufacturing capacity. With combined capabilities, the company will be able to provide excellent customer service and manage large scale global projects.

"The acquisition has a perfect strategic fit, to focus on value added products and strengthen our position in the Railway on the global market.", says Paul Gustavsson, CEO Elcowire Group AB.

Together, NKT Railway and Elcowire Group (with the companies Isodraht GmbH and Elektrokoppar AB) will be the technology leader for overhead catenary wires including the trademarks Valthermo and Elcorim.

NKT Railway is located in Hettstedt, Germany with sales office in Cologne and a total of 65 employees.
The closing of the transaction is subject to regulatory approval and is expected to take place no later than Q1, 2019.

For more information contact:
Paul Gustavsson, CEO Elcowire Group,
+46(0)725 5522 900
paul.gustavsson(at)elcowire.com

About Elcowire Group and Liljedahl Group
Elcowire Group consists of three companies; AB Elektrokoppar (Sweden), Isodraht (Germany) and Liljedahl Wire (China). http://www.elcowire.com

Elcowire Group is one of seven wholly-owned holdings of the family-owned Liljedahl Group. Liljedahl Group is also largest owner of the stock listed company Bufab AB (publ). The Group has 1 300 employees and a turnover of SEK 11 billion. http://www.liljedahlgroup.se/en

SOURCE Elcowire Group