Electrical power cable manufacturer CBi electric: African cables, part of JSE-listed Reunert Group, acquired cable accessories supplier Tank Industries for an undisclosed amount in April.
CBi electric: African cables and Tank Industries are local manufacturers of cable and cable accessories, for the South African, African and international markets.
The acquisition will result in Tank Industries operating as a CBi electric: African cables subsidiary.
It also adds a range of high-quality cable connectivity solutions to the CBi division’s product offering.
“Together, [the two companies] are now able to provide a comprehensive product offering [for] any cable installation, whether it be electrical power, telecommunications or fibre optics,” says CBi electic: African cables MD Alan Dickson.
CBi electric: African cables designs and manufactures electric power cables at its factory in Vereeniging, near Johannes- burg, while Tank Industries manufactures and distributes electric component solutions for use in the power, telecommunications and electronics sectors.
Dickson adds that the primary reason for the acquisition was to assist CBi electric Group in providing its clients with an end-to-end solution, instead of only a product offering.
The acquisition will also enable the companies to enter new markets, as CBi electric will acquire and service Tank Industries’ market and vice versa, says Dickson.
He adds that CBi electric: African cables is committed to maintaining its current operations and to invest in the future of the business to ensure it continues to grow and serve its customers “with the quality range of products and services they are accustomed to”.