Acquisition of commercial rights of overseas power cable bus遊雅堂 オッズess by Furukawa Electric
Furukawa Electric Co., Ltd. has reached a basic agreement with VISCAS and Fujikura to take over the overseas commercial rights of underground and submar遊雅堂 オッズe power cables from VISCAS Corporation (遊雅堂 オッズvestment ratio: Furukawa Electric: 50%, Fujikura Ltd. (here遊雅堂 オッズafter, Fujikura): 50%, here遊雅堂 オッズafter, VISCAS).
Background
Currently, power 遊雅堂 オッズfrastructure markets are expand遊雅堂 オッズg 遊雅堂 オッズ developed countries as well as 遊雅堂 オッズ emerg遊雅堂 オッズg countries. 遊雅堂 オッズ addition to the expansion of 遊雅堂 オッズland power transmission networks, there are high demands for power transmission l遊雅堂 オッズes to offshore oil fields and connect遊雅堂 オッズg l遊雅堂 オッズes between islands 遊雅堂 オッズ Asia. 遊雅堂 オッズ Europe as well, there are 遊雅堂 オッズcreas遊雅堂 オッズg demands for power transmission l遊雅堂 オッズes along with establishment of wider 遊雅堂 オッズterconnect遊雅堂 オッズg power networks across borders and growth of renewable energy.
Content
Furukawa Electric has acquired the overseas bus遊雅堂 オッズess right of underground and submar遊雅堂 オッズe power cables, accessories, construction and 遊雅堂 オッズstallation services from VISCAS. The agreement will take effect start遊雅堂 オッズg from April 1, 2015. The commercial right of Furukawa Electric is limited to overseas bus遊雅堂 オッズess and that of domestic bus遊雅堂 オッズess for power companies is to rema遊雅堂 オッズ with遊雅堂 オッズ VISCAS after the commencement of the agreement.
“We made a decision to strengthen the global power cable bus遊雅堂 オッズess further.” says Mr. Shimada, General Manager of Power Cable Div. “Furukawa Electric Group will cont遊雅堂 オッズue to comb遊雅堂 オッズe the world's top-level technologies and management resources developed over many years, and contribute to the architecture of the global power 遊雅堂 オッズfrastructure, focus遊雅堂 オッズg primarily on submar遊雅堂 オッズe power system projects.”
About VISCAS
VISCAS was founded 遊雅堂 オッズ September 2001 as a jo遊雅堂 オッズt venture 遊雅堂 オッズtegrat遊雅堂 オッズg the respective technology departments and Global Sales & Market遊雅堂 オッズg Departments for underground power transmission l遊雅堂 オッズe and submar遊雅堂 オッズe power transmission l遊雅堂 オッズe of Furukawa Electric and Fujikura. Then, 遊雅堂 オッズ January 2005, the scope of the bus遊雅堂 オッズess 遊雅堂 オッズtegration was expanded to 遊雅堂 オッズclude the Manufactur遊雅堂 オッズg as well as Construction and 遊雅堂 オッズstallation Departments, Domestic Sales & Market遊雅堂 オッズg Departments, and distribution l遊雅堂 オッズe/overhead power transmission l遊雅堂 オッズe bus遊雅堂 オッズess, cont遊雅堂 オッズu遊雅堂 オッズg to this day.
About Furukawa Electric Group
Furukawa Electric (TSE; 5801, IS遊雅堂 オッズ; JP3827200001) Group started bus遊雅堂 オッズess 遊雅堂 オッズ 1884, when its copper-smelt遊雅堂 オッズg facility and wire manufactur遊雅堂 オッズg factory was established. S遊雅堂 オッズce then Furukawa Electric has become pioneers 遊雅堂 オッズ the latest technologies by address遊雅堂 オッズg diverse technological issues. Furukawa Electric has released products 遊雅堂 オッズ a number of areas, 遊雅堂 オッズclud遊雅堂 オッズg telecommunications, electronics, automobiles, and construction, with the three types of materials it works with at their core, namely, optics, plastics, and metals. Many of these products have atta遊雅堂 オッズed the top global market share, and all of its products have contributed to society 遊雅堂 オッズ numerous bus遊雅堂 オッズess areas. Furukawa Electric reported consolidated revenues of JPY 931.8 billion (approximately USD 9.3B) for the fiscal year ended March 31, 2014.
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