Superior Essex in Talks with Furukawa Electric for Further Collaboration in High Performance Winding Wire Business
ATLANTA, June 18, 2019 /PRNewswire/ -- Superior Essex Inc. and Furukawa Electric Co., Ltd. are currently in pursuit of global collaboration, targeting the Chinese and North American markets.
Superior Essex and Furukawa Electric have developed a strong business relationship through technical collaboration and cooperation in previous joint ventures. The companies currently have an established German joint venture company, "Essex Furukawa Magnet Wire Europe GmbH" (Superior Essex: 51%, Furukawa: 49%), which was formed in March 2017 with the intent to supply high-voltage winding wire and other sophisticated products such as HVWW® to the European market.
A global venture would showcase innovation and distribution capabilities for both companies. Furukawa Electric has pioneered the development of high-performance winding wire, HVWW®, for applications in automotive electric motors, generators and reactors. Superior Essex operates 12 global manufacturing sites as well as its world-wide sales and distribution network.
The winding wire manufactures will release further detail when an agreement is reached.
About Superior Essex
Superior Essex is the parent brand of Essex Magnet Wire, Superior Essex Communications, and Essex Brownell. It has over 3,000 employees in 11 countries, on three continents. Superior Essex is the leading, global provider of magnet wire and is on the forefront of communications fiber application as well as Power over Ethernet (PoE) technology. It is instrumental in creating disruptive technological advancements in the electrification of the automotive, energy, and industrial sectors. Superior Essex is committed to pioneering smart building technology while also setting the pace on sustainability. Superior Essex is Everywhere You Live and Work®. Additional information is available at http://superioressex.com
About Furukawa Electric Co., Ltd.
Furukawa Electric Co., Ltd. (TSE: 5801) started business in 1884, when its copper-smelting facility and wire manufacturing factory was established. Since then Furukawa Electric has become pioneers in the latest technologies by addressing diverse technological issues. Furukawa Electric has released products in a number of areas, including telecommunications, electronics, automobiles, and construction, with the three types of materials it works with at their core, namely, optics, plastics, and metals. Many of these products have attained the top global market share, and all of its products have contributed to society in numerous business areas. To learn more about Furukawa Electric, please visit furukawaelectric.com.
SOURCE Superior Essex Inc.
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