- Draka Holding
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Draka Holding N.V. 
Type Privately held Naamloze vennootschap Industry Manufacturing, engineering Founded 1910 Founder(s) Jan Teewis Duyvis Headquarters Amsterdam, Netherlands Key people Frank Dorjee (CEO), Pier Francesco Facchini (Chairman of the supervisory board) Products Power, instrumentation and telecommunications cables Revenue €2.428 billion (2010)[1] Operating income €28.6 million (2010)[1] Profit €4.6 million (2010)[1] Total assets €1.827 billion (end 2010)[1] Total equity €614.8 million (end 2010)[1] Owner(s) Prysmian Employees 9,375 (end 2010)[1] Website www.draka.com 
Former Draka headquarters in Amsterdam
Draka Holding N.V. is a Dutch manufacturer of electrical cables for the telecommunications, energy, infrastructure and automotive industries, founded in 1910 by Jan Teewis Duyvis.[2] It formerly had a joint venture with Alcatel-Lucent for manufacturing optical fibre, but bought out its partner's 49.9% stake for €209 million in December 2007.[3] In April 2008, Draka announced that it would close a factory in Spain, as its customers planned to relocate to North Africa and Eastern Europe in search of lower wages.[4]
In 2009, Italian cable manufacturer Prysmian made a takeover offer for Draka, but doubts began to emerge in August.[5] Prysmian called off the takeover talks in early September.[6] In October 2010, French cable maker Nexans made a €15/share offer to buy the 43.9% of the company held by Flint Beheer, an investment fund owned by the wealthy Fentener van Vlissingen family.[7] Nexands indicated that it would sell off Draka's telecommunications activities. However, Draka rejected Nexans' offer, and on 22 November 2010 instead accepted Prysmian's new offer of €17.20/share (9.1x EBITDA), creating the world's largest cable maker by revenue. Prysmian intends to integrate Draka's operations into their own, rather than breaking it up; integration costs are estimated at €170 million over three years.[8]
References
- ^ a b c d e f Annual Results 2010, Draka Holding N.V., http://www.draka.com/draka/lang/en/nav/Investor_relations/Press_Releases/2011/Press_release_15_February_2011.pdf, retrieved 16 February 2011
- ^ Company profile, Draka Holding N.V., 2008, http://www.draka.com/draka/lang/en/nav/About_us/Company_profile/index.jsp, retrieved 2010-07-28
- ^ Leers, Kaj (2007-12-18), "Draka to pay 209 mln eur to Alcatel-Lucent for 49.9 pct stake in Comteq JV", Forbes, http://www.forbes.com/feeds/afx/2007/12/18/afx4450827.html, retrieved 2010-07-28
- ^ Messing, Cornelia (2008-04-21), "Draka to close factory in Spain as customers relocate factory facilities", Forbes, http://www.forbes.com/feeds/afx/2008/04/21/afx4912005.html, retrieved 2010-07-28
- ^ "Prysmian down; Draka deal doubt", Reuters, 2009-08-04, http://uk.reuters.com/article/idUKL416656520090804, retrieved 2010-07-28
- ^ Gray-Block, Aaron (2009-09-10), "Prysmian calls off takeover talks with Draka", Forbes, http://www.forbes.com/feeds/afx/2009/09/10/afx6871730.html, retrieved 2010-07-28
- ^ "French cable maker Nexans bids for Draka, hedge funds unhappy", DutchNews.nl, 2010-10-18, http://www.dutchnews.nl/news/archives/2010/10/french_cable_maker_nexans_bids.php, retrieved 2010-10-19
- ^ Roumeliotis, Greg (2010-11-22), "Prysmian and Draka cable deal takes on No.1 Nexans", Reuters, http://www.reuters.com/article/2010/11/22/prysmian-draka-idUSLDE6AL05Q20101122, retrieved 2011-04-30
External links
Categories:- Dutch company stubs
- Companies established in 1910
- Manufacturing companies of the Netherlands
- Multinational companies headquartered in the Netherlands
- Wire and cable manufacturers
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