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Krone Communications Bought By Gen Tek

KRONE New Zealand has become part of the US group GenTek Inc, following the sale of KRONE AG by former parent company JENOPTIK AG.

KRONE New Zealand General Manager Damien Rodgers said the New Zealand division of German based KRONE AG welcomes the change in ownership.

“This moves represents a partnership between two companies that are leaders in their field. Both companies stand to benefit from the wider product range and combined market presence and customer base.”

Together with wire and cable company and GenTek subsidiary Prestolite Wire, KRONE will make up the telecommunications division of the US technology company.

Both KRONE and Prestolite contribute an innovative range of solutions to the partnership which means a more comprehensive product portfolio is now available for KRONE’s public (AccessNET) and private (PremisNET) network customers.

The new venture will combine the KRONE and Prestolite telecommunications businesses, providing customers around the globe with total connectivity and wiring solutions that maximise bandwidth and network speed. It will further enhance the marketing of Prestolite’s revolutionary TrueNetTM cabling systems that maximises network bandwidth through specifically tuned high-performance cables and connectors.

Prestolite Wire Pacific Rim Marketing Manager Victor NG Chip Thian said the acquisition of KRONE adds another franchise to GenTek´s growing family of leading manufacturing companies.

“KRONE is an outstanding company, with superior products and technology that will significantly enhance the growth opportunities of GenTek. The acquisition positions GenTek to capitalise on the growing need for network speed and bandwidth in accessing the Internet and to take advantage of market opportunities in the global telecommunications and technology sectors.“

The KRONE Group is the world's leading systems supplier for telecommunications and data networks. From network planning to commissioning, the company offers connection and distribution solutions and products for copper and optic fibre networks.

The KRONE Group recorded sales of US$318 million in 1998, about 80 percent of which was achieved overseas. The company is represented in 140 countries around the world by 29 subsidiaries, 80 sales partners and a staff of around 3,000.

GenTek recorded sales of US$800 million and an operating result of US$100 million for the 1998 year and has a staff of 6,800. The company, which went public on the New York High-Tech Stock Exchange (NYSE) in 1998, is active in the automotive industry, in data and communication networks, and in the chemical products sector.

INFO FOLLOWS
GenTek Inc

Based in Hampton, New Hampshire, US, GenTeck Inc (NYSE:GK) is a diversified manufacturer of engineered components and performance products for a broad range of customers.

KRONE

KRONE is a leading global producer of interconnection and distribution devices used in copper and fibre optic telecommunications and data networks. It is the market leader in voice block cabling and structured cabling systems.

The company’s core LSA-Plus rapid connection system, which allows wires and cables to be attached to connector plugs without soldering, screws or insulation removal, is considered an industry standard in more than 140 markets worldwide.

KRONE Australia is the Asia Pacific Regional Headquarters for the KRONE group. There are manufacturing facilities in Australia, China and in Indonesia, and offices in New Zealand, Australia, Japan, India, China, Thailand, Indonesia, Singapore, Malaysia, Hong Kong, Korea, Vietnam and the Philippines. More information on KRONE Asia Pacific can be found at http://www.krone.com.au or the company’s group homepage at www.krone.com

Prestolite Wire

Prestolite Wire Corporation has been manufacturing innovative products since 1907. It is a provider of high-speed voice and data communications copper based wiring and fibre optic solutions that are utilised in local area networks, telephone systems and wide area network applications.

It produces the most advanced unshielded twist pair and fibre optic cables on the market. Prestolite Wire serves a diverse global customer base with high quality, innovative products.

Headquartered in Southfield, Michigan, Prestolite is the leading North American producer of high temperature automotive ignition wire assembly products for original equipment manufacturers (OEM) and also serves the automotive aftermarket. Millions of cars worldwide from Ford, Jeep, Chrysler, Honda and Nissan are fired by Prestolite Wire ignition cables. More information can be found at www.prestolitewire.com.

ENDS

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