Hengtong Acquires Three Great Foreign Companies at the Same Day

On December 2nd, Gao Anmin, the vice president of Hengtong Group signed the  ownership transferring framework agreement of Aberdare Cable Proprietary Limited Company, Cables de Comunicaciones Zaragoza,S.L, and ALCOBRE - Condutores Eléctricos, S.A. For Hengtong, this is a landmark in the process of internationalization.
Aberdare Cable Proprietary Limited Company of South Africa was founded in 1946, is the largest Wire & Cable Manufacturer of South Africa, which has three large production bases. Their products account for 26% in ESKOM market and the percentage rises to 37% in South Africa market.
Cables de Comunicaciones Zaragoza,S.L, is a leading manufacturer and distributor of Spain, which services for telecommunications, transportation and industry sectors on optics, metal, rail transportation, signal transmission, communications and control cable. In Zaragoza market, the telecommunications sector accounts for about 73%, transportation sector accounts for 25% and industry sector is 2%.
ALCOBRE - Condutores Eléctricos, S.A. of Portugal specializes in electric infrastructure, mining business and telecommunications. For European, it is the main manufacturer and distributor of low-voltage aluminum and copper power-cable. Besides, their industrial sector accounts for about 74% of the market, the electric power sector accounts for 13% and the telecommunications sector is 8%.
Hengtong gained a wide market and greatly enhanced competitiveness in the whole world through this acquisition. Since there is shortage of electricity in South Africa, Electric power needs to be largely imported and power stations needs to be established , and it will lead the demand of wire and cable to the continuted growth.