Manchester's B3 Cable Solutions to acquire UM Cables from Usha Martin

Manchester-based B3 Cable Solutions has entered in to an agreement to acquire the entire equity of Usha Martin''s cable-manufacturing subsidiary, U M cables. The companies expect the transfer to be completed early next year, subject to due diligence and necessary approvals.

U M Cables, with its modern manufacturing facility at Silvassa near Mumbai, manufactures optical fibre and copper telecom cables, and claims a strong domestic and international customer base.

B3 says, this acquisition will help to position itself strategically in the resurgent optical fibre cable business and also in the fast growing Asian region.

B3 Cable Solutions, with manufacturing in the UK and Ireland, is one of Europe''s largest producers of copper cables. It works in partnership with its customers and stakeholders to deliver cost-effective supply and logistic solutions that are tailored to the needs of individual customers. This combination of capabilities is unique within the marketplace.

"Usha Martin has been a successful player in telecom cable business for over 15 years," said Dr P Bhattacharya, joint. managing director, Usha Martrin."The U M Cable operation has the required quality, efficiency, competitiveness and asset quality to move to higher levels of performance through expansion and product development. The ownership change to a leading cable company of international repute creates a win win opportunity to allow growth of the cable business as well as enabling Usha Martin to concentrate on its core business of minerals, speciality steel and wire rope".

The company has manufacturing facilities at Ranchi, Jamshedpur, Hoshiarpur, UK, Thailand, UAE and USA. It has created a worldwide distribution, service and marketing network spread across the US, UK, Europe, Africa, the Middle East, South East Asia and Australia.