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LS Cable & System, Korea’s largest power cable maker, said Tuesday it had secured the exclusive right to supply 220 kilovolt-power transmission cables to ESB Networks, an Irish national power company.
“It is a meaningful contract because the Korean cable maker won the contract by defeating the European cable makers that had been dominating the market,” the company said in a press release.
The four-year contract will expire in 2018, but includes renewable options.
The cable to be supplied by LS C&S will be used in Ireland’s national power network expansion, with power demand in the country rapidly increasing, in line with its economic development.
LS C&S entered the European market by establishing a U.K. sales branch in 2008 and has been building up its profile across Europe, including Denmark, the Netherlands, France and Italy.
The Korean cable maker expects to record at least 40 million euros in sales from the deal by 2018.
By Seo Jee-yeon (jyseo@heraldcorp.com)
“It is a meaningful contract because the Korean cable maker won the contract by defeating the European cable makers that had been dominating the market,” the company said in a press release.
The four-year contract will expire in 2018, but includes renewable options.
The cable to be supplied by LS C&S will be used in Ireland’s national power network expansion, with power demand in the country rapidly increasing, in line with its economic development.
LS C&S entered the European market by establishing a U.K. sales branch in 2008 and has been building up its profile across Europe, including Denmark, the Netherlands, France and Italy.
The Korean cable maker expects to record at least 40 million euros in sales from the deal by 2018.
By Seo Jee-yeon (jyseo@heraldcorp.com)
