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Rea and Viakable Announce Their Intent To Form A Joint Venture
The Rea Magnet Wire Company and Magnekon, a division of Viakable, today announced their intent to form a joint venture to serve magnet wire customers primarily in North America. Due to governmental filing requirements, this transaction is currently under regulatory review in Mexico.
The JV will combine the NAFTA assets of both companies, as well as leverage operational and supply chain synergies, and include an enamel manufacturing plant (Kemek). Rea will own majority interest in the JV. The JV will be named Rea Magnekon and be headquartered in Fort Wayne, Indiana. The JV will be governed by the strong family and international business cultures cultivated by Rea and Magnekon who represent over 100 years of combined magnet wire experience. "This agreement represents each organization's strong commitment to provide customers with the best overall value in magnet wire and related wire products and will better enable us to meet the expressed needs of our North American customers," said Scott Harrison, CEO/President of Rea Magnet Wire Company.
source : Rea and Viakable Announce Their Intent To Form A Joint Venture (http://www.wireworld.com/blog/rea-and-viakable-announce-their-intent-to-form-a-joint-venture.html)