Hexatronic has signed an agreement with Ericsson to acquire the remaining copper cable equipment and inventory to drive the in-house production forward.
The copper cable operation will become a standalone business unit within Hexatronic Cables & Interconnect Systems (HCI), as part of a long term investment. The company will become a niche supplier in the copper and hybrid technologies (power (copper) cable + optic fiber for communication).
“We are pleased to offer an additional 15 people long term employment within HCI. During the time that we have handled the copper cable operation, we’ve seen how a certain product mix can be both profitable and long term. We will also increase our technology expertise in HCI. We have managed to find a solution with Ericsson, where we acquired this in a mutually advantageous manner”, says Gert Nordin, CEO of Hexatronic.
The 15th of April was the first day of trading for Hexatronic Scandinavia AB (HTRO) on First North at NASDAQ OMX Stockholm. Hexatronic is the ninth company to be admitted to trading on First North’s Nordic markets (Stockholm, Helsinki, Copenhagen and Iceland) in 2014.
Hexatronic, which provides fast, quality solutions for fiber optic cabling and broadband operations, was previously listed at Aktietorget.
CEO of Hexatronic, Gert Nordin said, “We are switching our listing to First North as we believe that it will support increased visibility for our company as well as our shares”
Senior Vice President at NASDAQ OMX Adam Kostyal commented on Hexatronic’s new listing by saying, “We are excited to welcome Hexatronic to NASDAQ OMX and to our First North market. We continue to see a strong inflow of innovative companies opting for our First North market and Hexatronic’s switch today underlines that trend.”
NASDAQ OMX is a leading provider of trading, exchange technology, information and public company services, across six continents. First North is regulated as a multilateral trading facility, operated by the different exchanges within NASDAQ OMX Nordic.