PLP ANNOUNCES ACQUISITION OF MAXXWELD CONECTORES ELÉTRICOS LTDA

Rhea-AI Summary

Preformed Line Products Company (NASDAQ: PLPC) has acquired Maxxweld Conectores Elétricos Ltda, a Brazilian leader in substation connector systems. This strategic acquisition, announced on January 12, 2022, aims to enhance PLP's operational capability in South America, aligning with its global substation strategy. Maxxweld, established in 1991, will significantly improve PLP's service offerings to utility customers in the region, bolstering its position in the high voltage AC systems market.

Positive

• Acquisition of Maxxweld increases operational and technical capabilities in South America.
• Strengthens PLP's global substation strategy and expands service reach to utility customers.

Negative

• None.

CLEVELAND, Jan. 12, 2022 /PRNewswire/ -- Preformed Line Products Company (NASDAQ: PLPC) announced today that it has acquired Maxxweld Conectores Elétricos Ltda.

Founded in 1991 and based out of Curitiba, Brazil, Maxxweld designs and manufactures substation connector systems and accessory hardware for high voltage AC systems and is a market leader in Brazil. The acquisition of Maxxweld will greatly expand PLP's operational and technical capabilities in the region while supporting its overall global substation strategy.

"The acquisition of Maxxweld further enhances the operational reach of our global substation business and brings with it a great team of talented people that will be critical for expanding our substation business in South America," stated PLP's Chief Executive Officer and President Rob Ruhlman. "The addition of Maxxweld to our global substation group will significantly expand our ability to service our utility customers throughout the region and globally."

ABOUT PLP
PLP protects the world's most critical connections by creating stronger and more reliable networks. The company's precision-engineered solutions are trusted by energy and communications providers worldwide to perform better and last longer. With locations in over 20 countries, PLP works as a united global corporation, delivering high-quality products and unparalleled service to customers around the world.

 

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SOURCE Preformed Line Products

FAQ

What was the purpose of PLPC's acquisition of Maxxweld?

The acquisition aims to enhance PLP's operational and technical capabilities in South America and strengthen its global substation strategy.

When was the Maxxweld acquisition announced?

The acquisition was announced on January 12, 2022.

How does the Maxxweld acquisition impact PLPC's business?

It expands PLPC's ability to service utility customers in South America and globally, significantly enhancing operational reach.

What market does Maxxweld operate in?

Maxxweld is a market leader in Brazil, designing and manufacturing substation connector systems for high voltage AC systems.

What are the expected benefits of acquiring Maxxweld for PLPC?

The acquisition is expected to bring technical synergies and expansion in service offerings, enhancing PLPC's competitive position.