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Neo Industrial Plc Completes Sale of OAO Expokabel and ZAO Reka Kabel


Wednesday, 22 May 2013 02:00am EDT 

Neo Industrial Plc announced that on May 22, 2013 it has finalized the selling of OAO Expokabel and ZAO Reka Kabel, the Group’s cable manufacturing companies in Russia. The relating agreement on share transaction was signed on April 3, 2013. The parties have agreed not to publish the price of this transaction. OAO Expokabel manufactures special cables for marine engineering, oil and gas industry, as well as for nuclear power plants. ZAO Reka Kabel is specialized in manufacturing medium voltage cables. The purchaser of the companies is holding company Whitescope Limited, operating in cable business in Russia and Ukraine. 

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