Nexans acquires Danish wind turbine cable kit company

Nexans has acquired a controlling stake in Denmark-based BE CableCon in bid to expand further into the renewable energy market.

BE CableCon manufactures and supplies cable kits to some of Europe’s leading wind turbine companies.

Renewable energy sources will account for almost three-quarters of the $10.2 trillion global investment in new power generating technology by 2040, according to Bloomberg New Energy Finance, New Energy Outlook 2017. The acquisition is an illustration of the recently announced ‘Paced for Growth’ strategy aimed at developing Nexans’ business beyond manufacturing cables to provide customers with complete, fully integrated cable services, said the company in a statement.

Klaus Moller, CEO of BE CableCon, will head the new Nexans subsidiary company. He said, “Joining the Nexans Group with its expertise in cable production and global footprint will provide the ideal platform to take our business to the next level. We look forward to expanding beyond Northern Europe to work with global OEMs as well as addressing new markets in the North American and Asia–Pacific regions.”

Alain Robic, Nexans VP Industry Solutions and Projects, said, “We have developed an excellent working relationship with BE CableCon as a subcontractor for our own kitting projects. Bringing them into the Nexans Group is a key step in our strategy to take greater control of critical elements within the value chain so that we can offer customers a complete engineered connection system. In addition to wind turbines, we will now be able to develop new growth opportunities for cable-kitting solutions in other industry segments.”