Olex acquires leading cable accessory supplier

OLEX, Australia’s leading cable manufacturer, has announced it has acquired Australmold, Australia’s leading supplier of Elastimold and Euromold cable accessories.

OLEX, Australia’s leading cable manufacturer, has announced it has acquired Australmold, Australia’s leading supplier of Elastimold and Euromold cable accessories.

Since its incorporation in 1985, Australmold has been the major supplier of pre-moulded connectors, joints and terminations to the industry.

Australmold employs 8 people and primarily services power authorities, original equipment manufacturers (OEMs), contractors and consumers throughout Australia and New Zealand.

The acquisition, which was completed on February 29, 2008, will provide exciting opportunities for Olex.

Andrew Stobart, Olex’ Managing Director said, “We are now able to enhance our cable offer to our customers and expand our product range and markets. And with the backing of Nexans, our parent company, we are well placed to be able to offer our customers a complete range of cables and accessories.”

Australmold Managing Director, Greg McKelvie, was also excited by the opportunities this acquisition would bring.

“Olex’ strong presence in the Australasian market will provide us with greater opportunities to expand our markets and be even more competitive.”

The acquisition will not affect the day-to-day running of Australmold, with Greg McKelvie to continue heading the new division with the same experienced staff.

This acquisition follows a year of significant growth and change for Olex, which operates across Australia, New Zealand and the Asia-Pacific.

Olex was acquired by Nexans, the worldwide leader in the cable industry, in December 2006, and has shown an increase in sales in 2007.

Olex also continues to expand its product portfolio with a range of new products set to be introduced in 2008.

For more information:

Natalie Stojkovski

Olex Communications Manager

Phone: 03 9281 4267

Email: nstojkovski@olex.com.au