The world’s third largest cable manufacturer LS Cable & System from South Korea expressed intention to enter the Romanian market.
After singing a deal to supply 220-kilovolt power transmission cables to an Irish state power company on Tuesday, under the contract with ESB Networks, the sole electric power transmission and distribution company in the Republic of Ireland, LS Cable representatives also announced possibility of expanding their business in Europe, naming Romania and Poland.
“ESB Networks has inspected our factories last November, as technology and product quality were also key evaluation factors in the bidding alongside price,” said Lee Heon-sang, overseas energy sales division senior vice president of LS Cable & System, as quoted by The Korea Times. “Based on the successful achievements in the European market, we plan to actively engage in the Eastern European market, such as Romania and Poland,” he added.
LS Cable established a sales branch in the United Kingdom in 2008 and has pushed ahead with high value-added products, including extra high voltage and submarine cables. Through Tuesday’s move, it is the first time that the Korean cable manufacturer signs an exclusive deal with a European national power company.