Expands Portfolio for Offshore Alternative Energy & Optical Communications Customers in Asia-Pacific Region
MELBOURNE, Australia and TINLEY PARK, Ill., Jan. 12, 2023 /PRNewswire/ -- Panduit Corp., a global leader in innovative electrical and network infrastructure solutions, announced that it has acquired the subsea cable and pipe protection product portfolio and related technologies from South Korea marine manufacturer DongWon EN-Tec Co., Ltd. (DWE). The product portfolio includes URAPROTECT, a polyurethane submarine cable and pipe protector solution, bend stiffeners and restrictors, and J-Tube seals for wind turbine applications. Terms of the transaction were not disclosed.
Panduit recently acquired the subsea cable and pipe protection product portfolio and related technologies from South Korea marine manufacturer DWE. In attendance for the acquisition closing were (pictured left to right): Jung Hoon Shin, Director of DWE; Gary Humbert, Panduit Director of Business Development, Industrial Electrical Infrastructure; Seung Ho Shin, President/CEO of DWE; Harry Woo, Panduit Managing Director SVP, Asia Pacific; Bo Yeon Jung, Panduit Director of Business, Asia Pacific EP
This transaction allows Panduit to offer its Asia-Pacific customers a wider breadth of capabilities and a growing portfolio of complementary high-quality industrial products used for protecting power cable and fiber optic subsea cable installations against hazardous conditions. The acquisition will also help the company further diversify its customer base and expand into markets at the forefront of megatrends within the offshore alternative energy and global communications bandwidth space.
"I am pleased to complete this acquisition with our Asia Pacific team which expands our portfolio of high-quality products for offshore wind customers," explained John Buck, Panduit vice president for electrical infrastructure. "The acquisition of DWE's product line and technology will allow us to accelerate our renewables growth strategy and invest in new product innovations for our customers as they build larger offshore wind installations in the future."
Since 1955, Panduit's culture of curiosity and passion for problem-solving have enabled more meaningful connections between companies' business goals and their marketplace success. Panduit creates leading-edge physical, electrical, network infrastructure, and AV solutions for enterprise-wide environments, from the data center to the telecom room, and from the desktop to the plant floor. Headquartered in Tinley Park, Ill., USA, and operating in 112 global locations, Panduit's proven reputation for quality and technology leadership, coupled with a robust partner ecosystem, helps support, sustain, and empower business growth in a connected world.