South Korean cable manufacturer LS Cable & System has won an optical cables supply deal in Italy, the company said Wednesday.
The deal signed with Italy’s telecoms network company Open Fiber is estimated to be worth 20 billion won ($17.6 million), the largest amount of optical cables to be exported by a Korean company, according to the company.
LS will be providing optical cables for Open Fiber’s high speed network construction project until 2018.
(LS Cable & System)
Open Fiber is owned by the state-controlled utility company Enel and Italian state lender Cassa Depositi e Prestiti. It is currently constructing a high-speed network that connects some 40 cities in the country.
LS’ local sales unit in France played an important role in winning the latest contract, LS Cable & System President Myung Roe-hyun said.
In April this year, LS set up its sales unit in France for the European region.
“The company expects to win more supply deals in the region during the second half of this year,” Myung added.
By Shim Woo-hyun (ws@heraldcorp.com)
