The acquisition, subject to various approvals is expected to reach completion within the third quarter of 2023. CBIs’ extensive experience in the production of signaling and communication copper cables as well as fiber optic cables make it a perfect extension for the expansion of the WEINERT group’s capabilities and capacities; as well as a strategic entry into the African market for WEINERT.
WEINERT has entered into an agreement with both ATC (Pty) Ltd and Powertech Telecom Cables (Pty) Ltd to acquire CBI Electric Telecom Cables (Pty) Ltd in Brits, North West Province, South Africa. The acquisition, subject to various approvals is expected to reach completion within the third quarter of 2023.
CBIs’ extensive experience in the production of signaling and communication copper cables as well as fiber optic cables make it a perfect extension for the expansion of the WEINERT group’s capabilities and capacities; as well as a strategic entry into the African market for WEINERT.
The extension of operations that this acquisition allows – with its facility of over 300 employees- forms a key pillar of WEINERTs’ long-term growth strategy. WEINERT will be able to leverage its extensive experience and knowledgeable staff to further engage with and deliver on the engineering and operational demands from its worldwide businesses and customers. With the South African unemployment rate hovering around 30%, WEINERTs’ investment is not only an economic decision, but also a social responsibility for us as a family owned enterprise. To further confirm our commitment to South Africa – which will become WEINERTs largest production facility outside of Germany. WEINERT commits to uphold a Level 2 B-BBEE (Broad-Based Black Economic Empowerment) structure in this acquisition to do our part in addressing social economic challenges, supporting transformation as well as other government policies within the country.
The expected technological advancements and data rate increase on the African continent make it an exciting, rapidly expanding and largely untapped market for quality special cables and state of the art optical and fiber optic solution. Both of these will be required in the increasingly complex and demanding applications planned in this region. The expansion of the WEINERT group into Africa not only presents an opportunity to extend our services and products throughout the world but also establishes us as a market leader on the continent in terms of knowledge, expertise and capability. We look forward not only to the brokerage of new partnerships from this venture and the opportunity to tackle new and technically challenging applications.
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