Gaon Cable Enters Canada Power Market in Earnest, Looks to Expand North American Business
TECHWORLD ·
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Gaon Cable supplied medium-voltage (MV) cables to a major public utility in western Canada, marking its first export to Canada.
The latest supply is the first case in which the company has expanded its North American business portfolio, previously centered on AI data centers, semiconductor plants and power plants, into the public power grid sector.
Gaon Cable plans to accelerate its push into the Canadian market and strengthen its influence based on supply-chain synergies between its headquarters and its production subsidiary in North Carolina, U.S. (LSCUS).
Gaon Cable is entering the Canadian power market for the first time as it seeks to expand its North American business. On the 9th, the company said it will supply medium-voltage (MV) cables to a major public utility in western Canada. This marks Gaon Cable’s first export to Canada.
Gaon Cable’s existing North American business portfolio had centered on private industrial facilities such as AI data centers, semiconductor plants and power plants. The latest supply marks the first time it has expanded its North American portfolio into the public power grid sector.
The overseas public infrastructure market has high barriers to entry. With this move, Gaon Cable expects to secure a favorable position in future public bidding competitions across North America.
Gaon Cable plans to accelerate its push into the North American market following its entry into Canada. The company aims to further expand its local presence through organic supply-chain synergies between its headquarters and its production subsidiary in North Carolina, U.S. (LSCUS).
Based on supply-chain synergies between its headquarters and its production subsidiary in North Carolina, U.S. (LSCUS), Gaon Cable expects North American sales to grow sharply by more than 50%, from about USD 300 million in 2025 to about USD 470 million this year.
Jung Hyun, CEO of Gaon Cable, said the company’s entry into Canada’s public power grid is an important milestone in improving the fundamentals of its North American business and expanding its reach.
Jung said the company plans to continue strengthening its influence in the North American power infrastructure market spanning the U.S. and Canada.
Source: TECHWORLD · Lee Gwang-jae
Original: https://www.epnc.co.kr/news/articleView.html?idxno=406731
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Source: TECHWORLD
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