Superior Essex (SPSX) has opened its new magnet wire factory in eastern Europe, only eight months after breaking ground. The 14,000-square-meter facility is located in Zrenjanin, Serbia about 90 miles from the capital, Belgrade.
Starting in 2019, SPSX will produce about 12,000 tons of magnetic wire products from the 42 production lines to serve the auto parts and electricity components markets in Europe. With additional investment, the company plans to nearly double that production capacity to 24,000 tons by 2021.
“SPSX added a new manufacturing base in Eastern Europe, which is an emerging market, to seek further development,” LS Group chairman Christopher Koo said during the ceremony. SPSX has been an affiliate of the group since 2008. Other affiliates are LS Cable & Systems and LS Industrial Systems which all provide products to the electricity infrastructure and energy markets. “The new plant will become a core production base in the magnet wire industry, as the plant was launched in only eight months thanks to support from government officials and other related officials in Serbia, said Koo.”
With the addition of this new facility, SPSX makes it easier for global manufacturers to seamlessly source magnet wire for all of their assembly facilities while also serving eastern Europe based manufacturers. This location compliments the Essex Europe plants in Germany and Italy plus brings local service to nearby manufacturers of electric motors and coils for the automotive and commercial & residential markets, the company said.
We are making it easier for global customers to grow and transfer their Essex magnet wire products wherever they are needed, explained Brian Kim, CEO of Superior Essex, when plans for the new plant were announced in late 2017.
SPSX is the world’s largest magnetic wire maker and fourth-largest communications cable maker in the U.S. in terms of sales. Its headquarters are in Atlanta and the firm recorded sales of $2.02 billion in 2017. The company is the sole magnetic wire supplier to electric vehicle maker Tesla.
To learn more, visit: http://www.spsx.com/