Ericsson has signed a conditional agreement with Danish company NKT Cables to divest its power cable operation
As a result of the agreement, about 320 employees and consultants, primarily based in Sweden, will transfer to NKT Cables
The value of the transaction is SEK 250 million and closing is expected during the beginning of the third quarter, 2013
The transaction is subject to relevant regulatory approvals.
NKT Cables is one of the largest power cable manufacturers in Europe. Ericsson (NASDAQ: ERIC) believes that the power cable operation that currently resides within business unit Networks has potential to realize greater leverage and scale within NKT Cables where it will be core business.
The net sales for the power cable operation in 2012 was approximately SEK 1.5 billion.
The current best estimate is that the transaction will generate a net loss of approximately SEK -100 million and will, with current time plan, negatively impact business unit Networks operating income in the third quarter, 2013.
As a result of the agreement NKT Cables will take over a factory in Falun, Sweden.
NOTES TO EDITORS
Download high-resolution photos and broadcast-quality video at www.ericsson.com/press
Ericsson is a world-leading provider of communications technology and services. We are enabling the Networked Society with efficient real-time solutions that allow us all to study, work and live our lives more freely, in sustainable societies around the world.
Our offering comprises services, software and infrastructure within Information and Communications Technology for telecom operators and other industries. Today 40 percent of the worlds mobile traffic goes through Ericsson networks and we support customers networks servicing more than 2.5 billion subscriptions.
We are more than 110,000 people working with customers in more than 180 countries. Founded in 1876, Ericsson is headquartered in Stockholm, Sweden. In 2012 the companys net sales were SEK 227.8 billion (USD 33.8 billion). Ericsson is listed on NASDAQ OMX, Stockholm and NASDAQ, New York stock exchanges.
www.ericsson.com
www.ericsson.com/news
www.twitter.com/ericssonpress
www.facebook.com/ericsson
www.youtube.com/ericssonpress
FOR FURTHER INFORMATION, PLEASE CONTACT
Ericsson Corporate Communications
Phone: +46 10 719 69 92
E-mail: media.relations@ericsson.com
Ericsson Investor Relations
Phone: +46 10 719 00 00
E-mail: investor.relations@ericsson.com
Most recent headlines
25/02/2025
eds3_5_jq(document).ready(function($) { $(#eds_sliderM519).chameleonSlider_2_1({ content_source:......
25/02/2025
MALAGA, Spain As media and entertainment companies work to increase audience engagement and boost sales across various platforms and deliver a seamless, cohesiv...
25/02/2025
The NAB Show announced that it is partnering with Public Media Venture Group (PMVG) to bring public TV's annual technical conference to the Broadcast Engine...
25/02/2025
Attorneys for President Trump and Paramount are seeking a mediator to resolve Trump's $20 billion lawsuit against CBS, according to the New York Times....
25/02/2025
The head of a public TV advocacy group this week warned that threats to cut funding to public broadcasters could impact public safety....
25/02/2025
BRUSSELS Mediagenix has announced that the MBC Group's Shahid streaming platform has gone live with Mediagenix On-Demand, a scheduling, content management a...
25/02/2025
Animate color changes of 3D Objects in After Effects
Graham Quince February 25, 2025
0 Comments
It is so cool these days that Adobe After Effects supp...
25/02/2025
Blackmagic URSA Cine 12K LF Used on Peacock's LAID Series
Brie Clayton February 25, 2025
0 Comments
Pivotal scene captured in open gate at 220 fps...
25/02/2025
Clip Usage Tips in Adobe Premiere Pro
Colin Smith February 25, 2025
0 Comments
This tutorial shows useful tips on how to keep track of all the clips i...
25/02/2025
The NAB Show announced that it is partnering with Public Media Venture Group (PMVG) to bring public TV's annual technical conference to the Broadcast Engine...
25/02/2025
The companys administrators said the economic headwinds which are affecting comp...
25/02/2025
Hotcams head of engineering, Hugo Santos, explains the value of mentorship and personal development to TVBEurope
By Matthew Corrigan
Published: February 25, ...
25/02/2025
StreamGuys officially enters the AI universe with the debut of new workflow integrations that simplify some of the most labor-intensive tasks associated with co...
25/02/2025
Lightbridge, creators of the renowned CRLS Reflectors for naturalistic motion picture lighting, introduces the C-100 Grid System. The answer to creating customi...
25/02/2025
After 20 years working on everything from Hollywood and Netflix shows to Annie-award-winning game animation, the team at boutique VFX studio Space Office knows ...
25/02/2025
Custom Consoles has chosen CABSAT 2025 as the MEASA market launch venue for the latest additions to its range of studio control desks and monitor displays. The ...
25/02/2025
LucidLink, the storage collaboration platform for creative teams, is bringing its latest innovations to NAB 2025 (booth SL2705) with the full launch of its late...
25/02/2025
Optimum and MSG announced on Friday that they had reached a new carriage agreement, ending a standoff that lasted almost two months....
25/02/2025
What does President Trump's executive order giving the White House oversight of the FCC and other independent agencies mean for the world of broadcast? We a...
25/02/2025
MALAGA, Spain As media and entertainment companies work to increase audience engagement and boost sales across various platforms and deliver a seamless, cohesiv...
25/02/2025
TV Tech: What will be your most important product news at NAB Show?...
25/02/2025
Roberta Flack, a Legend that Transcended Generations, Dies at 88 The R&B singer best known for Killing Me Softly with His Song and Feel Like Makin' Love ...
25/02/2025
Berklee Presents Mambo Mania: Eguie Castrillo and His Big Band All-Stars The Signature Series Concert will honor legendary salsa musician Tito Puente.
By
Co...
25/02/2025
Rohde & Schwarz launches new R&S ZNB3000 vector network analyzer ideal for high-...
25/02/2025
Murata and Rohde & Schwarz present the worlds first Voice over Narrowband NTN te...
25/02/2025
Back to All News
Netflix Announces Fictional Miniseries About the 1970 Championship
Entertainment
25 February 2025
GlobalBrazilMexico
Link copied to clipb...
25/02/2025
Back to All News
Zero Day' Makes Strong Top 10 Debut Following Netflix Social Accounts Hack
Entertainment
25 February 2025
Global
Link copied to cli...
25/02/2025
Meet our work experience student, Indi! We gave her some quick-fire questions to get to know her better.
Tell us a little bit about yourself!
I am Indianna As...
25/02/2025
Julie Triolo Joins Fox Corporation as Senior Vice President, Product Marketing, ...
25/02/2025
Comscore Appoints a new Country Manager for the UKLONDON, UK, February 25, 2025 Comscore (Nasdaq: SCOR), a global leader in measuring and analysing consumer b...
25/02/2025
Facebook
Twitter
LinkedIn
Thales marks a new major milestone in its global acceleration in trusted AI with the launch of cortAIx in the UK to address defe...
25/02/2025
Celebrating 20 Years of the RT Choice Music Prize
RT Choice Music Prize
Conversations 2024
6th March, 12.00-16.45
http://www.choicemusicprize.ie/conversat...
24/02/2025
Ten school students from Meitingen secondary school had the opportunity to gain ...
24/02/2025
Adam Liaw delivers all new dishes and chat to help you reach culinary greatness ...
24/02/2025
The Blue Lucy team will demonstrate how BLAM's new report dashboard provides unparalleled insights into content supply chain operations at the 2025 NAB Show...
24/02/2025
NEW YORK, NY - February 24, 2025 - Nielsen, the global leader in audience measurement, data and analytics, announced that Jessica Holscott will join the company...
24/02/2025
The groundbreaking Hearing Aid feature is now available on AirPods Pro 2 in the United Kingdom. The clinical-grade, over-the-counter Hearing Aid feature is avai...
24/02/2025
Mediagenix, a leader in software solutions for content strategy, content value management, and content scheduling, today announced that Shahid, the world's ...
24/02/2025
The Blue Lucy team will demonstrate how BLAM's new report dashboard provides unparalleled insights into content supply chain operations at the 2025 NAB Show...
24/02/2025
Chimp Crazy Docuseries Captured with Blackmagic Design
Brie Clayton February 24, 2025
0 Comments
Blackmagic URSA Mini Pro 12K captured critical interv...
24/02/2025
Creating HERE - Utilising AI De-Aging Tech
Caroline Shawley February 24, 2025
0 Comments
Forrest Gump director Robert Zemeckis has once again teamed u...
24/02/2025
David Lynch's Music Was as Unsettlingly Brilliant as His Films The late auteur's film legacy was cemented in productions like Twin Peaks and Blue Velv...
24/02/2025
Technicolor Creative Studios UK Limited is expected to file for administration today
By Jenny Priestley
Published: February 24, 2025 Updated: February 25, ...
24/02/2025
Gilbert Sawaya, deputy head of broadcast sales at Mark Roberts Motion Control (MRMC) tells TVBEurope how the overlap of technology with creativity makes the ind...
24/02/2025
LG Electronics USA has opened a new in-house, state-of-the-art Virtual Production Studio at its 360,000-square-foot North American headquarters in Englewood Cli...
24/02/2025
PlayBox Neo, a leading provider of media playout solutions, announces its sponsorship of a pre-NAB networking event hosted by its Orlando-based partner Enlighte...
24/02/2025
arkona technologies GmbH and manifold technologies GmbH, providers of cutting-edge IP core infrastructure solutions, have announced the integration of their tec...
24/02/2025
Actus Digital, a global leader in AI-driven media monitoring and regulatory compliance logging solutions, is excited to announce its participation in FOMEX Saud...
24/02/2025
Designing jaw-dropping broadcast lighting is something the pros at Brightline Lighting do every day. CRI and lumens are part of their DNA. But there are project...
24/02/2025
AgileTV, United Teleports, and BNS today announced a game-changing new fully managed TV service that addresses the limitations of today's existing video ser...
Ericsson has signed a conditional agreement with Danish company NKT Cables to divest its power cable operation
