A subsidiary of Atlanta-based wire and cable manufacturer Superior Essex Inc. has acquired the U.S. magnet-wire business of a Japanese firm.
Essex Group Inc. bought the magnet wire sale and distribution capacity of Tokyo-based Furukawa Electric Co. Ltd. and American Furukawa Inc., which supplies technology for cars, electronics and specialty products in the Americas.
Magnet or winding wire is a coiled strand of insulated copper or aluminum used to conduct electricity in motors and other electronic equipment.
The terms of the deal were not disclosed. Essex believes it will help the company make inroads with Japanese parts suppliers in the hybrid and electric vehicle segment, according to a news release.
Essex also signed a technical agreement with Furukawa Electric, with which it has had a business relationship since 1988.
Visit http://www.superioressex.com for more information.