wiredinUSA March 2014

Fasteners acquisition

30 years in fiber

Fasteners manufacturer Semblex Corporation has announced its acquisition by Jinhap Co Ltd of South Korea. Jinhap supplies fasteners, cold formed andmachinedspecial products to the global automotive industry. Founded in 1978, Jinhap is a 100 percent family owned company with annual revenues of approximately $425m and employs over 1,200 people. The company has four manufacturing plants in South Korea and two plants in China (increasing to four during 2014). The sale of Semblex, mandated by US tax regulations, follows a comprehensive effort by the previous owners, Haerther Trust, and company management to explore future ownership opportunities that would enable Semblex tocontinue its current business direction. The transition of ownership to Jinhap is believed to accomplish those objectives and brings long term stability to the business. No changes are planned to the Semblex organization or to the company’s existing relationships with its bank, suppliers, product licensors, or other strategic alliance partners, including Agrati Group, a major European fastener company.

Fiber optic cable and accessories manufacturer AFL is celebrating its 30 year anniversary throughout 2014. AFL began operations in 1984 in Spartanburg, South Carolina where it manufactured optical ground wire for transmission lines. Through a combination of steady growth and acquisition AFL can now offer solutions for telecom, broadband, enterprise and electric utility to the oil and gas, mining and transportation sectors. AFL is taking its celebrations into communities. Through its community outreach program, AFL associates are building a Habitat for Humanity home in Greer. The project, which will begin 1 st March 2014 and continue until mid-June, will be built entirely by AFL associates, friends and family. During April, AFL locations around the world will participate in the 30 Days of Service, giving back to their communities by participating in an ACT (AFL community team) service project, Take Root tree planting or other outreach initiative. In the fall, associates and their families will enjoy a family festival in recognition of their efforts over the years. AFL started as a joint venture and in 2005 became wholly owned by Fujikura Ltd of Japan.

wiredInUSA - March 2014

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