Recently, there have been good news from Spain, which Cablescom (Cables of Communications, Zaragoza) almost doubled its results in 2018, with a 95% increase in turnover.
Cablescom, one of European leading companies featuring in designing and manufacturing communication copper cables, railway signal cables and optical cables, was founded in 1971 and acquired by Hengtong in 2016. The main product of Cablescom is optical cable, and 80% of products are used for export , mainly to Europe and North Africa.
As the entry into Europe, Cablescom constantly brings in technology and production experience , and it has enhanced the competitiveness in industry and achieved rapid growth in performance with the strong support of Hengtong.
“ We are Hengtong’s main growth platform in Europe,”Veronica Iliescu, the CEO of Cablescom said. “ “ Profit margins of products and the market we sell in are great.”She added.
Since the arrival of Hengtong, the workforce has increased by 100 people, up to 250 people. Based on the progress, Cablescom has been recognized as the best company in the group outside of China in 2018.
Among its objectives for this year, Iliescu stressed “ we will increase our presence in France because of the strong demand for optical cable. Due to product expansion and growth in exports, Cablescom’s turnover is expected to increase between 20% and 30% in 2019.
In addition, a process of modernization and automation of the facilities is underway , in which, six million Euros will be invested over two years. And this upgrade will provide complete infrastructure for its next expansion.