Draka Holding N.V. announces that it has signed an agreement to sell its OPGW activities based in Monchengladbach (Germany) to AFL Telecommunications (USA).
Draka’s OPGW (Optical Power Ground Wire) activities focus on the development, production and sale of complete OPGW systems in the EMEA region whereby the conductor serves as a normal ground wire, protecting the phase conductors against strokes of lightning and carrying earth fault currents. The conductor also provides a high-capacity optical path for power utility telecommunication needs. Production takes place in Monchengladbach (Germany) with around 130 employees. OPGW forms part of Draka’s Communications Group.
Draka will continue to support AFL Telecommunications with its fiber technology through a long term single mode fiber supply agreement.
The closing of the transaction is subject to standard procedures. The sale of the OPGW activities fits within Draka’s strategy to focus on core growth markets and the proceeds will be used to lower its debt position further.
Draka Holding N.V.:
Michael Bosman – Director Investor Relations +31 20 568 98 05; michael.bosman@draka.com
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Company profile
Draka Holding N.V. (‘Draka’) is active worldwide in the development, production and sale of cable and cable systems. Draka’s activities are divided into three Groups: Energy & Infrastructure, Industry & Specialty and Communications.
Within these three Groups, the activities have been split up into divisions. Energy & Infrastructure consists of the divisions Europe en Asia-Pacific; Industry & Specialty consists of the Automotive & Aviation, Cableteq USA, Elevator Products and Industrial divisions, while the Communications Group is divided in the divisions Optical Fiber Cable Solutions, Copper Cable Solutions, Americas and Optical Fiber.
Draka has 68 operating companies in 30 countries throughout Europe, North and South America, Asia and Australia. Worldwide the Draka companies have some 10,050 employees. The head office of Draka Holding N.V. is established in Amsterdam. In 2008, Draka generated revenue of € 2.7 billion and a result for the year of € 83.5 million (excluding non-recurring items).
Draka Holding N.V. ordinary shares and subordinated convertible bonds are listed on Euronext Amsterdam. The Company was included in the Next150 index in 2001 and the AMX-index(Amsterdam Midkap index) since 4 March 2008. Options on Draka shares have also been traded on the Euronext Amsterdam Derivative Markets since 8 July 2002.
For more information about Draka Holding N.V. visit our website: www.draka.com