LS Cable wins $8 million deal to improve electricity in ItalyLS Cable and System, Korea’s largest cablemaker, said yesterday that it became the first non-European company to supply cables to Italy after securing a deal worth 6 million euros ($8 million).
The affiliate of LS Group said that it will supply transmission cables to Italy’s only electricity transmission system operator, Terna. Its aerial cable product enables the transmission of double the electricity compared to old cables without replacing transmission towers, the company said.
Industry insiders said that this is significant because it shows that Korean companies are able to enter the electricity market’s so-called European mecca. Italy has the world’s No. 1 cablemaker, Prysmian. LS Cable first entered the European market after opening a sales unit in the United Kingdom in 2008.