nkt cables takes over ABB’s high-voltage cables business

Thursday, 2 March, 2017 - 12:45

nkt cables and ABB Group have closed the acquisition whereby nkt cables takes over ABB’s high-voltage cables business.

With the acquisition follows around 1,000 employees, state-of-the art facilities for DC high voltage cables production and offshore cables-laying, as well as new key technology and strong project management competences for turn-key deliveries.

The acquisition will significantly change the profile of nkt cables towards a larger project business. Previously, the company had its major activities within low- and medium-voltage cables for buildings and utilities. The new business will have a significantly higher revenue share within offshore windfarms and long-distance interconnectors tying together the European grids.

nkt cables President and CEO Michael Hedegaard Lyng explained: “The offshore wind and interconnectors are some of the fastest growing power cable markets. They are demanding both from a technology and project execution point-of-view, but now we will be perfectly positioned to take a leading role in this industry.”

To fully reflect the new identity of the combined business, the companies will merge under the common name NKT and an updated logo will be introduced. The company will have around 3,800 employees with Sweden as the biggest location with almost 1,200 employees. It is headquartered in Copenhagen, Denmark and Cologne, Germany and will have 11 production sites across Europe.

Silke Funke / nkt cables

Similar Entries

Ridgeway “Rockbags” set for exponential growth in 2022 for use in marine and offshore works. Belfast-based construction supply business soars by 40% after acquiring the European rights to distribute “filter units” for use in offshore marine and civil engineering works (pict. Ridgeway)

Belfast-based construction supply business soars by 40% after acquiring the European rights to distribute “filter units” for use in offshore marine and civil engineering works.

Deployment of a patent protected 4T Filter Unit Rockbag on Saint Nazaire Offshore Wind Farm (pict. Ridgeway)

Saint-Nazaire Offshore Wind Farm will use Ridgeway Rockbags for cable stabilisation and protection.

The jacket, which will support the offshore platform substation, was secured on the seabed using the Saipem 7000 heavy lift vessel  (pict. SSE plc)

Construction of the world’s deepest fixed bottom offshore wind farm, which is also Scotland’s largest, has reached another milestone with the installation of a jacket in preparation for the project’s offshore substation topside which is due to be installed in early 2022.

First transformer has been delivered to convertor station for Dogger Bank Wind Farm. Image source Dogger Bank Wind Farm (pict. SSE Renewables)

The first of a number of transformers that will enable the transmission of renewable energy from the world’s largest offshore wind farm has been delivered. The transformers will play an integral role in the operation of three onshore convertor stations in East Riding of Yorkshire and on Teesside, that will eventually convert the current from the wind farm for transmission via the national grid network to 6 million UK homes.