LS Cable breaks ground for U.S. power cable plant

SEOUL, May 27 (Yonhap) -- LS Cable & System Ltd., South Korea's top wire and cable maker, said Friday that it began construction of a power cable production line in the United States in an effort to tap deeper into the North American cable market.
LS Cable and its U.S. subsidiary, Superior Essex Inc., plan to complete the plant in Tarboro, North Carolina, by March next year, LS Cable said in a statement. The company is set to spend US$60 million on the plant.
The plant will start production of low- and medium-voltage power cables for commercial, industrial and utility markets, it said. LS Cable plans to offer high-voltage cables and other transmission products and services going forward.
The upcoming plant is expected to serve as a power cable operations base in the North American market, LS Cable said.
"We will strive to become a major player in the North American power cable market by combining LS Cable & System's competencies in power technologies with Superior Essex's strong market expertise," company president Son Jong-ho said in the statement.
LS Cable acquired Superior Essex, the largest wire and cable manufacturer in North America, for $900 million in 2008.