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Company History
The Company (Asia Pacific Wire & Cable Corporation Limited), formed on September 19, 1996, is a Bermuda exempted limited liability company which, through its operating subsidiaries, is principally engaged in the manufacture and distribution of telecommunications (copper and fiber optic) and power cable and enameled wire products in the Asia Pacific region, primarily in Singapore, Thailand, Australia and China. The Company manufactures and distributes its own wire and cable products and also distributes copper rod and wire and cable products ("Distributed Products") manufactured by its principal shareholder, PEWC. The Company also offers project engineering services in the supply, delivery and installation ("SDI") of power cables. Pacific Electric Wire & Cable Company, a Taiwanese company ("PEWC"), currently owns beneficially over 65% of the issued and outstanding Common Shares of the Company. MSD Credit Opportunity Master Fund L.P. holds 9.8% of the issued and outstanding Common Shares. Approximately 25% of the issued and outstanding Common Shares are publicly traded on the NASDAQ in the United States under the trading symbol "APWC".
Products Home
The Company manufactures and sells a wide variety of wire and cable products primarily in four general categories: telecommunications cable, power transmission cable, electronic cable and enameled wire. The Company's telecommunications and power cables are used in a range of infrastructure projects and in commercial and residential developments. The Company's electronic cables are used in the electronics, computer, building automation, audio and communication industries. The Company's enameled wire is used in the manufacturing of components and sub-components of household appliances and small machinery. In addition, the Company acts as the Singapore distributor of copper rod and wire and cable products manufactured by PEWC. In 1997, the Company also began offering SDI project engineering services of medium and high voltage cable for power transmission projects in Singapore.
Copper and fiber optic telecommunications cable manufactured by the Company is largely used as access lines to connect buildings and residences to feeder and trunk cables. Power cable manufactured by the Company is used primarily in power transmissions for public lighting, outdoor installations and in and to commercial and residential buildings. Electronic cable is sold to government bodies, large construction companies, subcontractors, system integrators and electronic equipment manufacturers. Enameled wire is sold primarily to private sector manufacturers of electric motors for use in various consumer appliances. The Company mainTains local sales personnel in each country where it has manufacturing operations, and export sales are conducted through independent suppliers as well as the Company's own sales personnel.
Company Profile
History and Development of the Company
The Company (Asia Pacific Wire & Cable Corporation Limited), formed on September 19, 1996, is a Bermuda exempted limited liability company which, through its operating subsidiaries, is principally engaged in the manufacture and distribution of telecommunications (copper and fiber optic) and power cable and enameled wire products in the Asia Pacific region, primarily in Singapore, Thailand, Australia and China. The Company manufactures and distributes its own wire and cable products and also distributes copper rod and wire and cable products ("Distributed Products") manufactured by its principal shareholder, PEWC. The Company also offers project engineering services in the supply, delivery and installation ("SDI") of power cables. Pacific Electric Wire & Cable Company, a Taiwanese company ("PEWC"), currently owns beneficially over 65% of the issued and outstanding Common Shares of the Company. MSD Credit Opportunity Master Fund L.P. holds 9.8% of the issued and outstanding Common Shares. Approximately 25% of the issued and outstanding Common Shares are publicly traded on the NASDAQ in the United States under the trading symbol "APWC".
Based on information published by the Thai Ministry of Commerce on sales by dollar value, the Company believes that Siam Pacific and Charoong Thai are two of leading telecommunications and power cable and wire manufacturers in Thailand and are two of a very limited number of the government-approved suppliers of telecommunications cable for major public telecommunications projects in Thailand.
In a restructuring that included the transfer of Pacific Thai into Siam Pacific, the Company achieved a reorganization, which has generated cost savings while improving overall efficiency. The Company believes the synergistic effect of merging these operations will continue to produce significant savings in overhead cost as it facilitates the centralization of decision making and resource allocation for the Thai operations. Management of Pacific Thai and Siam Pacific was consolidated into Charoong Thai in order to enhance synergies and provide greater sharing of expertise. For example, each of Charoong Thai and Siam Pacific's manufactured and distribute enameled wire and they are now in a better position to share technical expertise and resources. Under the restructuring, APWC owns 50.93% of Charoong Thai, which owns 100% of Siam Pacific. However, Siam Pacific continues to report its results separately to APWC headquarters.
The Company's Singapore operations are principally conducted through its 98.3%-owned subsidiary, Sigma Cable Company (Private) Limited ("Sigma Cable"). The Company believes that Sigma Cable is one of the leading suppliers of power cable products in Singapore. Sigma Cable manufactures and sells a range of low voltage power cable products, used mainly in infrastructure projects and commercial and residential developments. Sigma Cable is also the exclusive distributor in Singapore of medium and high voltage wire and cable products manufactured by PEWC.
Sigma Cable also has project engineering operations in Singapore to supply, deliver and install ("SDI") primarily medium and high voltage cable to power transmission projects. While the Company currently obtains its supply of medium and high voltage power cable for its SDI operations from PEWC, other suppliers are also available if necessary. The Company anticipates that there will be increasing demand for medium and high voltage power cable and related turnkey installation projects in Singapore as two new SDI projects totaling $14.1 million contract sum are entered into by Sigma Cable with customers in the first quarter of 2011 and the Company is seeking to increase its business volume in its project engineering business segment.
The Company sells its cable products primarily to government agencies, telecommunications network operators and large construction companies and subcontractors bidding for government contracts. Telecommunications cable products manufactured by the Company are largely used as access lines to connect buildings and residences to feeder and trunk cables. Power cable manufactured by the Company is used primarily in power transmissions for public lighting, outdoor installations and in and to commercial and residential buildings. Enameled wire is sold primarily to private sector manufacturers of electric motors for use in various consumer appliances. The Company maintains local sales personnel in each country where it has manufacturing operations, and export sales are conducted through independent suppliers as well as the Company's own sales personnel. The Company principally competes on the basis of product quality and performance, reliability of supply, timely delivery, customer service and price.
Location of Corporate Offices
The Company's executive business office is located in Taipei, Taiwan. It is presently located at Room B, 7/Fl., No. 132, Sec. 3, Min-Sheng East Road, Taipei, 105 Taiwan, ROC, telephone number (8862) 2712-2558. The Company's registered office is located at Canon's Court, 22 Victoria Street, Hamilton HM EX, Bermuda, telephone number (441) 295-2244.
http://www.apwcc.com