Taihan Electric Wire Wins $34 Mil. Cable Orders from the U.S.

The share price of Taihan Electric Wire Co. has been on an upward trend on the news of large orders from the United States.  April 21, the shares of Taihan Electric Wire were traded at 2,255 won, up 5.37 percent from the previous trading day's 2,140 won.

The company said on the same day it won three orders totaling US$34 million, including a   275-kV cable order from Los Angeles Department Water & Power ($24 million), a 230-kV substation construction project in New Jersey ($8 million), and a 230-kV project from San Diego Gas & Electric.

Of these, the Los Angeles project involves supplying stranded wire insulation cables, the biggest of its kind in the United States. Unlike any other ultra-high-voltage cables that use copper wire as a conducting material, stranded wire insulation cables have reduced power transmission resistance by coating enamel finish.

Recently, the demand for electric wires and cables in the United States is on the rapid rise thanks to the economic recovery pace. By 2018 the U.S. wire and cable market is predicted to grow an annual rate of 9.4 percent.

A Taihan official said, "We are working hard to strengthen our presence in North America by adding new sales offices and hiring more sales workforce. Given a high degree of confidence with our products, we expect additional orders to come."

source wireworld