New Optical Fiber Cable Plant Established in Morocco
- Furukawa Electric Further Strengthens Business Activities in the EMEA Market -
Furukawa Electric Co., Ltd. held an opening ceremony on May 9 of this year for its new optical fiber cable manufacturing plant established in Morocco as part of its initiative to strengthen its business activities in the EMEA (Europe, Middle East and Africa) market. The plant will serve as a manufacturing center for Furukawa Electric, and is the company’s first such center in Africa.
Morocco has concluded free trade agreements with various Western countries, and in recent years has attracted attention as a base for exporting to Europe and African countries.
Furthermore, with high-speed telecommunications networks expected to be rolled out across the African continent due to factors such as increasing populations, the market for optical fiber cable and other such telecommunications-related markets are also expected to expand as a result.
Through OFS Fitel, LLC (Georgia, United States; CEO and Chairman: Timothy Murray; “OFS” below), Furukawa Electric established an optical fiber cable manufacturing plant in the Tangier region of northern Morocco, holding an opening ceremony on May 9 of this year.
Furukawa Electric Co., Ltd Corporate Senior Vice President and OFS CEO and Chairman Timothy Murray spoke at the ceremony, declaring that with global telecommunications traffic continuing to increase, the establishment of a new optical fiber cable manufacturing center in Tangier would contribute greatly to the delivery of high-speed, high-capacity telecommunications, particularly in the EMEA area.
Furukawa Electric committed to an additional investment of approximately 150 million USD in September of last year to meet increased global demand for optical fiber and optical fiber cable. In addition to improving the capabilities of its existing plants in regions such as North America, other efforts such as the establishment of a new manufacturing center in Mexico are also underway, and the establishment of the new plant in Morocco is part of this greater initiative.
Furukawa Electric will continue to leverage the world-leading optical telecommunications technology it has developed over its long history, in order to enable high-speed and high-capacity telecommunications.
About Furukawa Electric Group
Furukawa Electric (TSE; 5801, ISIN; JP3827200001) Group started business in 1884, when its copper-smelting facility and wire manufacturing factory was established. Since then Furukawa Electric has become pioneers in the latest technologies by addressing diverse technological issues. Furukawa Electric has released products in a number of areas, including telecommunications, electronics, automobiles, and construction, with the three types of materials it works with at their core, namely, optics, plastics, and metals. Many of these products have attained the top global market share, and all of its products have contributed to society in numerous business areas. Furukawa Electric reported consolidated revenues of JPY 967.3 billion (approximately USD 8.7B) for the fiscal year ended March 31, 2018.