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VietNamNews

Cable maker takes over rival in $3.4 million deal

Update: February, 07/2013 - 00:00

HA NOI (VNS)— Viet Nam Electric Cable Corporation (CADIVI) bought Sai Gon Cable Company, part of the Sai Gon Cable and Telecommunication Material Joint Stock Company (SACOM), for around VND90 billion (US$4.3 million).

With total production area of 4.5ha, the company primarily manufactures telecommunication cables and electric cables with annual outputs of 800.000km of twin telecom cables and 700-800 tonnes of electric cables respectively.

This productivity is expected to earn CADIVI additional profits of about VND2 trillion ($96.15 million) per year, said CADIVI general director Nguyen Loc.-VNS

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