Winding wire manufacturers Superior Essex Inc. and Furukawa Electric Co., Ltd. are currently in merger talks in pursuit of global collaboration targeting the Chinese and North American markets.
Superior Essex and Furukawa Electric have developed a strong business relationship through technical collaboration and cooperation in previous joint ventures. The companies currently have an established German joint venture company, “Essex Furukawa Magnet Wire Europe GmbH” (Superior Essex: 51%, Furukawa: 49%), which was formed in March 2017 with the intent to supply high-voltage winding wire and other products such as HVWW to the European market.
The companies said that a global venture would showcase the innovation and distribution capabilities for both companies. Furukawa Electric has pioneered the development of high-performance winding wire, HVWW, for applications in automotive electric motors, generators and reactors. Superior Essex operates 12 global manufacturing sites as well as its world-wide sales and distribution network.
The winding wire manufactures will release further detail when an agreement is reached.