NKT — M&A Activity 2017

Mar 1, 2017

Nasdaq Copenhagen
Nikolaj Plads 6
DK-1007 Copenhagen K

1 March 2017
Announcement No. 4

NKT Cables’ acquisition of ABB HV Cables completed
As reported in Company Announcement No. 3 of 27 February 2017, the European
Commission has approved that NKT Cables’ acquisition of the ABB high-voltage
cables business can be completed as planned.

Today, closing of the transaction is completed.

NKT Cables’ projects business which comprises AC/DC on- and offshore
high-voltage cables will be headed by Andreas Berthou, former SVP of ABB HV
Cables. Andreas Berthou has been with the company since 1999 and holds
extensive experience with the on- and offshore AC/DC industry. Detlev Waimann,
former head of NKT Cables’ projects business, will take up a position as Chief
Technology Officer (CTO) responsible, among others, for the company’s
significant R&D and innovation activities as well as Regulatory Affairs.

Michael Hedegaard Lyng, CEO of NKT Cables, says:
- We are well prepared for the integration of NKT Cables and ABB HV Cables.
Together we will bring our company to a new level. With the joint business we
are ready to take a leading and active part in the global energy transformation
and to offer our customers innovative solutions at the forefront of this
industry. Furthermore, we look forward to welcoming all employees from ABB HV
Cables on this exciting journey starting today.

Contacts

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