wiredinUSA July 2014

INDEX

More space for Scintilla Italian steel wire producer

Celik Halat ve Tel Sanayii AS of Turkey has signed an agreement with an Italian joint venture to acquire the Italian stainless steel wire and alloy wire producer Trafileria Del Lario SpA (TDL) for €7.5 million. In 2013 TDL reduced its capacity utilization to 25 percent due to financial difficulties. In 2011, TDL’s total sales volume amounted to 11,553 tonnes, 50 percent of which was sold in Italy, 42 percent to other EU countries and eight percent to non-EU countries. TDL purchases 70 percent of its raw material from Europe and 30 percent from Asia. According to the agreement, TDL will file for financial protection at a district court in order for its debts to be consolidated. TDL and Celik Halat have signed a three-year plant leasing protocol for €240,000 which will enable TDL to continue production until the agreement and the financial protection are concluded. The leasing cost will be subtracted from the €7.5 million acquisition payment.

The Hungarian cable and wire harness manufacturer Scintilla is to double the production space at its Jászberény facility. Increasing the plant’s output capacity is expected to allow Scintilla to expand its revenues to €10.53 million during 2014, an increase of 9.5 percent, compared with €9.62 million reported for 2013. Scintilla supplies its output to a range of industries including telecommunications, domestic appliances, machinery and the automotive industry.

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wiredInUSA - July 2014

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