Stock Code:601869.SH / 06869.HK

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YOFC Acquired 100% Equity of Poliron in Brazil

  • 2021-06-10
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Yangtze Optical Fibre and Cable Joint Stock Limited Company (“YOFC” or “the Company”, stock code: 6869.HK, 601869.SH) announced that it has acquired 100% equity of Belden Poliron Indústria De Cabos Especiais Ltda. (“Poliron”), a previous wholly owned subsidiary of Belden Inc. (NYSE: BDC) in Brazil. After the transaction, Poliron has become a wholly owned subsidiary of YOFC.

 

The major facilities of Poliron are located in Sao Paulo, Brazil. Poliron is a prestigious local brand in Brazil and Latin America and has been in business in Brazil since 1940s. Poliron is highly recognized by customers in the region and has been granted as a certified organization in Brazil by Great Place to Work (“GPTW”), a global authority in building, sustaining & recognizing hightrust, high-performing workplace cultures, in 2020. Its businesses and services cover special cables used in petrochemical and chemical industries, offshore oil facilities and other industrial & building automation systems, and their cabling solutions. The local management team of Poliron stated that Brazil is one of the largest cable markets globally, and the current growth trend is promising. YOFC is a global leading company in the industry. It has profound experience in international markets, prudent financial status, and clear strategies. YOFC also share the same values with Poliron such as customer focus, social responsibility, innovation and organic growth. The management believe that within YOFC group, Poliron would complete integration smoothly and reach its development objective.

 

Mr. Zhuang Dan, executive director and president of YOFC, stated that internationalization is one of the core strategies of YOFC. In recent years, the overseas businesses are growing fast. The overseas revenue reached RMB2.1 billion in 2020 and was more than 25% of the group’s total revenue. YOFC’s products and services have penetrated more than 70 countries and regions, and its overseas production, sales and services network has covered global markets. Brazil and Latin America are important markets in cable industry. The acquisition marked a milestone in YOFC’s development in the region, and would further optimize its internationalization layout. After joining YOFC family, the operation of Poliron will remain efficient. Poliron will continue delivering quality products and services to clients and partners on time, and focusing on community and employees engagement. In the future, YOFC would stick to its internationalization strategy, optimize its global industrial layout, strengthen its position as global number one and industrial leader, and realize sustainable growth in the long run.

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