Daehan Optical Communication, a manufacturer of optical fibers and optical cables, is soaring following news of its acquisition agreement with a cable specialist manufacturer in the United States.
As of 10:15 AM on the 4th, Daehan Optical Communication is trading at 1,040 KRW, up 215 KRW (26.06%) from the previous day. This is interpreted as a reflection of the news about the acquisition of the U.S. cable specialist manufacturer.
On this day, Daehan Optical Communication announced that it had finalized a stock purchase agreement to acquire an 88.5% stake in INCAB AMERICA LLC (INCAB), a cable specialist manufacturer in the United States, on the 31st of last month (local time).
INCAB America is a comprehensive cable manufacturer with production facilities in Grapevine, Texas, USA, capable of producing 6,000 km of OPGW power lines and 12,000 km of communication lines annually. Daehan Optical Communication plans to leverage these facilities to accelerate the expansion of power and communication businesses within the United States.
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