Kinh doanhWorld

Sunhouse buys a Malaysian power cable factory in Binh Duong

According to information of Sunhousethe factory that the group just M&A with is OVI CABLES (Vietnam) – a member of Olympic Cables Company of OSK Group Malaysia, with more than 40 years of experience in manufacturing export cables in the world.

OVI CABLES (Vietnam) located in Binh Duong was established in September 2006, with an annual capacity of about 8,000 tons of copper. The company’s electrical cable products meet many international standards such as International Electro Technical Commission (IEC), British Standard (BS), Malaysia Standards (MS), ISO international standards.

Regarding this latest M&A deal, Mr Nguyen Xuan Phu – Chairman of Sunhouse Group said that instead of building a new one, Sunhouse M&A OVI CABLES power cable factory in Binh Duong can inherit all experience and knowledge in manufacturing electrical equipment and cables as well as trade brands and traditions of old enterprises to replicate and immediately supply products to the Vietnamese market.

Sunhouse did not disclose financial details related to the deal.

Sunhouse is a brand in the household goods industry, but trading in electrical cables is one of the first steps, creating the foundation for Sunhouse Group. In 2000, Phu Thang Co., Ltd. was established as the predecessor of Sunhouse with the main product being electric cables, accounting for 70% of the company’s revenue.

In 2003, realizing that the domestic market’s demand for modern household appliances and kitchen appliances was very large, the Company turned to production investment and changed its name to Anh Duong House Joint Stock Company (SunHouse). ).

Therefore, the group considers this to be a familiar segment to Sunhouse, however, due to the selection of key and key product orientations, Sunhouse focuses on the production of household appliances first. Before that, in 2019, Sunhouse also put into operation an LED lamp factory for direct export to the US market.

You are reading the article Sunhouse buys a Malaysian power cable factory in Binh Duong
at Blogtuan.info – Source: Soha.vn – Read the original article here

Back to top button