Tuesday, Sep 29, 2009
LS Cable Ltd. (KSE: 006260), South Korea’s biggest cable and wire manufacturer, said Tuesday it has won a 14 billion won (US$11.7 million) order from Germany’s Siemens AG to supply cables for railroads.
The order calls for LS Cable to provide electricity and telecommunications cables for a railway construction by Siemens in Saudi Arabia by the end of November, the South Korean company said in a statement.
“The order is the first achievement since we acquired the European unit of Superior Essex last year,” said LS Cable Chief Executive Officer Sohn Jong-ho in the statement.
Last year, LS Cable took over Superior Essex Inc. of the U.S., creating the world’s third-largest cable maker.