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Hexatronic to buy Ericsson’s fiber cable and duct business in New Zealand
Ownership of fiber cable and duct business in New Zealand to transfer from Ericsson to Hexatronic
Hexatronic will offer all 19 Ericsson employees who are currently employed in the business, employment in the continuing business. Hexatronic intends to operate and develop the existing fiber cable and duct business in New Zealand on a long-term basis.The acquisition takes place as a transfer of business and the new company will be named Hexatronic New Zealand Ltd. Hexatronic will take over the existing customer accounts from Ericsson. Tomas Qvist, Head of Supply of Ericsson in China, says: "We are pleased to have reached an agreement with Hexatronic. We have good experience with the company having previously sold other parts of our cable business to them. For Ericsson, this is another step in our strategy to phase out our cable business."