IRVINE, Calif.-(BUSINESS WIRE)-Industrial conglomerates Kaskol and RU-COM have completed the acquisition of all the assets of CTC Cable’s business. The business will continue to operate from the same location in Irvine, California and will be operated as CTC Cable Corporation. The company’s major focus will be on continuing the expansion of its ACCC® conductor sales to customers throughout the world.
“We are very pleased to acquire this advanced conductor business, which has developed such excellent technology and is managed by a world-class team of professionals.”
Commenting on the acquisition, Sergey Nedoroslev, Chairman of Kaskol, stated, “We are very pleased to acquire this advanced conductor business, which has developed such excellent technology and is managed by a world-class team of professionals.”
Mikhail Abyzov, Chairman of RU-COM Group, added, “CTC Cable’s technology and IP portfolio are outstanding, and with access to additional financial resources, combined with our reach in emerging markets throughout the world, CTC Cable’s advanced conductor product will accelerate its growth across all global markets. We are committed to investing in expansion plans as well as expanding the company’s R&D and new product development.”
Benton Wilcoxon, former CEO of Composite Technology Corporation, also stated, “This is clearly a new chapter in CTC Cable’s growth and evolution. Kaskol’s and RU-COM’s strength will open opportunities for CTC Cable that it formerly did not have as a dynamic, but undercapitalized firm. This is an excellent fit since the new owners understand and value complex technologies as well as have a very solid presence from which to focus on marketing the performance benefits of ACCC conductor worldwide.”