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History and Development of the Company
The Company (Asia Pacific Wire & Cable Corporation Limited), formed on September 19, 1996, is a Bermuda exempted limited liability company which, through its operating subsidiaries, is principally engaged in the manufacture and distribution of telecommunications (copper and fiber optic) and power cable and enameled wire products in the Asia Pacific region, primarily in Singapore, Thailand, Australia and China. The Company manufactures and distributes its own wire and cable products and also
distributes copper rod and wire and cable products ("Distributed Products") manufactured by its principal shareholder, PEWC. From 1997, the Company has also offered project engineering services in the supply, delivery and installation ("SDI") of power cables. Pacific Electric Wire & Cable Company, a Taiwanese company ("PEWC"), currently owns beneficially 55.4% of the issued and outstanding Common Shares of the Company.On June 28, 2007, SOF Investment, L.P. (MSD Capital L.P. is the general partner of SOF Investment L.P.) acquired from Sino-JP the 20% of the issued and outstanding Common Shares previously held by Sino-JP. The remaining 24.6% of the issued and outstanding Common Shares are publicly traded on the Pink Sheets in the United States under the trading symbol "AWRCF". |
The Company is one of the five largest producers of telecommunications and low voltage power cable and enameled wire in Thailand and believes that it is the largest producer of low voltage power cable in Singapore. In 2004, approximately 54.8% of the manufactured products sold by the Company were sold by its subsidiaries in Singapore and Thailand, with the remainder sold by its subsidiaries in China, Australia and Malaysia.
In Singapore, the Company also sells Distributed Products, which largely consist of copper rod and medium and high voltage power cable. Sales of Distributed Products accounted for 5.2% of the Company's revenues in 2004. As the Company continues to focus its resources on manufacturing and distributing its own products, sales of Distributed Products are expected to decline over time as a percentage of the Company's business. The Company's SDI project engineering services accounted for 3.3% of the Company's revenue in 2004. |
The Company sells its cable products primarily to government agencies, telecommunications network operators and large construction companies and subcontractors bidding for government contracts. Telecommunications cable products manufactured by the Company are largely used as access lines to connect buildings and residences to feeder and trunk cables. Power cable manufactured by the Company is used primarily in power transmissions for public lighting, outdoor installations and in and to commercial and residential buildings. Enameled wire is sold primarily to private sector manufacturers of electric motors for use in various consumer appliances. The Company maintains local sales personnel in each country where it has manufacturing operations, and export sales are conducted through independent suppliers as well as the Company's own sales personnel. The Company principally competes on the basis of product quality and performance, reliability of supply, timely delivery, customer service and price.
Relocation of Corporate Offices
In September 2005, the Company relocated its executive business office from Singapore to Taipei, Taiwan. It is presently located at Room B, 7/Fl., No. 132, Sec. 3, Min-Sheng East Road, Taipei, 105 Taiwan, ROC. The Company's registered office is located at Canon's Court, 22 Victoria Street, Hamilton HM EX, Bermuda, telephone number (441) 295-2244. |
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