We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Volex Plc | LSE:VLX | London | Ordinary Share | GB0009390070 | ORD 25P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-3.00 | -0.94% | 315.50 | 314.50 | 315.50 | 325.00 | 314.50 | 325.00 | 188,517 | 14:07:34 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Electronic Components, Nec | 722.8M | 36.8M | 0.2031 | 15.61 | 574.27M |
TIDMVLX
RNS Number : 5571N
Volex PLC
10 August 2017
10 August 2017
Announcement of Strategic Partnership
Volex plc ("Volex"), one of the world's largest manufacturers of premium power cord and cable harness assemblies and Nexen Tech Corporation ("Nexen Tech"), a leading South Korean manufacturer of automotive harnesses and connectors, have entered into a strategic partnership.
Volex and Nexen Tech will work together to jointly expand their product offering and customer reach in the high-growth electric vehicle market. Both companies are providing solutions into this market today and have complementary knowledge and experience. Volex is strong in mains-voltage premium charging solutions and consumer electronics internal harnesses and Nexen Tech is a proven supplier of automotive harnesses including on-board battery charger and cabin heating modules.
Nexen Tech will work with Volex's existing staff in Korea to sell the Volex range of products into well-known Korean consumer electronics companies in both the Korean domestic market and on a global basis. Nexen Tech has a long operating history and domestic presence in Korea, which will be invaluable in building relationships and generating new opportunities with Korean customers.
As part of the collaboration, Daren Morris Chief Financial Officer of Volex, will join the board as a director of Nexen Tech, which is listed on KOSDAQ, a market operated by the Korean Exchange.
There is no information to be disclosed in accordance with LR 9.6.13 R.
Jeonghun Kim, CEO of Nexen Tech commented:
"Nexen Tech is looking forward to forging a strong partnership with Volex, a company with a long and successful history as a global leader in cable manufacturing. The management, board and major shareholders of Nexen Tech look forward to supporting Volex with Korean manufacturers as well as working together to create a global presence in supplying the high growth Electric Vehicle market."
Nat Rothschild, Executive Chairman of Volex, commented:
"In 2009, Volex sold its automotive harness division and this partnership fills a gap in our product offering, and opens up significant cross-selling opportunities. Nexen Tech is a dynamic local player and will provide immediate support to our existing Korea sales office."
Enquiries:
Volex plc Nat Rothschild, Executive Chairman +65 6788 7833 Daren Morris, Group CFO & Company +44 208 017 Secretary 3232 Nexen Tech Corporation +82 52 259 Jeonghun Kim, CEO 8301
About Volex
For over 100 years, Volex has been providing customers in the telecom, data-centre, industrial, consumer and medical sectors with a variety of power cords, industry standard cable assemblies, high-speed cable assemblies and connectors. With revenues of $320 million in the year ended 2 April 2017, and a global manufacturing footprint, Volex remains one of the world's largest power cord and harness assemblers (www.volex.com).
About Nexen Tech
Since its foundation in 1994, Nexen Tech (KOSDAQ 073070) has been a key supplier of automotive wiring harnesses to the Korean automotive industry. Nexen Tech started supplying the Electric Vehicle (EV) market last year and was selected as a supplier for EV battery wiring harnesses to Korea's largest, and one of the world's largest, manufacturers of EV batteries.
This information is provided by RNS
The company news service from the London Stock Exchange
END
JVEBDGDILUGBGRC
(END) Dow Jones Newswires
August 10, 2017 02:30 ET (06:30 GMT)
1 Year Volex Chart |
1 Month Volex Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions