EoW May 2008

english corporate news

B3 starts talks over Spanish business B3 Cable Solutions has entered into exclusive negotiations with Nexans to purchase its telecommunications and railway signalling cable business in Santander, Spain. The deal was expected to complete at the end of the first quarter of 2008, subject to due diligence and finalisation of the necessary agreements and approvals. On completion B3 will become the third largest manufacturer of metallic telecommunication cables in the world and the largest outside the USA market. This deal would represent the fourth acquisition by the group since the beginning of 2006 and makes B3 the fastest growing cable manufacturer in the world. This acquisition follows hard on the heels of B3’s announcement in November 2007 that it had agreed to purchase UM Cables Ltd, one of India’s leading manufacturers of optical fibre and copper telecom cables, employing 140 people and with a turnover of $60m.  The Manchester and Ireland acquisitions carried out in 2006 were the first milestones in B3’s strategy of building a successful company through a combination of organic growth and acquisition.  The modern and well equipped operation in Santander serves high profile telecommunications companies across mainland Europe. It employs approximately 340 people for €75m of turnover and €29m of capital employed. The business also has an impressive rail company client list, and the acquisition of the business will enable B3 to further grow its market share in the rail cabling sector.

Executive vice president appointed for Polyolefins

Borealis has appointed Lorenzo Delorenzi as executive vice president for its Polyolefins business group and member of the executive board. Delorenzi vacates the position of vice president for the business unit pipe, where he led a successful turnaround of the business. Prior to joining Borealis, he held senior commercial and management positions within Tetrapak, one of the world’s leading packaging organisations. Delorenzi has a degree in Applied Business Economics from the University of Louvain in Belgium. Borealis AG – Belgium Fax : +43 122 400 333 Email : info@borealisgroup.com Website : www.borealisgroup.com

B3 Cable Solutions – UK Email : info@b3cables.com

Fax : +44 161 795 8393 Website : www.b3cables.com

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EuroWire – May 2008