Corning acquires Siemens' Kabel Optik

Corning acquires Siemens' Kabel Optik

JAKARTA: American-based fiber optic manufacturer Corning
Incorporated said on Wednesday that its subsidiary had acquired
Siemens AG's 51-percent interest in cable maker PT Siemens Kabel
Optik and would operate the newly-acquired firm under the name of
PT Communication Cable Systems Indonesia (CCSI).

CCSI president Peter Djatmiko said that Siemens sold its stake
because it wanted to focus on other businesses.

He did not disclose the terms of the agreement.

"Sales are projected to increase between 20 and 30 percent
after the acquisition," he said, adding that the company had
already achieved 30 percent of the market share in Indonesia.

CCSI supplies optical fiber cable to state-owned
telecommunications firms PT Telkom and PT Indosat. It is also
expanding its market to supply state-owned gas distribution
company PT Gas Negara, power company PT PLN and railway company
PT Kereta Api Indonesia (KAI). -- JP