Draka Holding NV The Board of Management of Draka Holding N.V. announces that it has signed a new joint venture agreement which will extend the Yangtze Optical Fibre and Cable Co. Ltd (YOFC) joint venture by another twenty years until May 2028. In a reaction Sandy Lyons, Chairman and CEO of Draka, said: ’We are very pleased with this new agreement which underscores Draka’s long term relationship with YOFC as a technology partner. Via YOFC, the market leader in optical fiber and optical fiber cable in China, Draka will continue to benefit from the sound growth prospects in the largest optical fiber market in the world.’
Draka has had a 37.5% stake in YOFC since 1988. The other shareholders in this joint venture are China Telecom (37.5%) and Wuhan Yangtze Communications Industry Group (25%).
[...] Draka YOFC joint venture In China Extended By Twenty Years Draka Holding NV The Board of Management of Draka Holding NV announces that it has signed a new joint venture agreement which will extend the Yangtze Optical Fibre and Cable Co. Ltd (YOFC) joint venture by another twenty years until May … [...]