The UK’s only subsea cabler which has a site on Teesside is being acquired by Polish company Tele-Fonika Kable (TFKable) in an undisclosed deal.
TFKable has snapped up JDR Cables, which has sites in Hartlepool and Newcastle, in a deal expected to be completed this week.
JDR has also announced the promotion of current chief operating officer Richard Turner to new chief executive.
“The opportunities for JDR from this acquisition are exciting, particularly in continuing to provide innovative products and services,” said Turner.
“JDR has ambitious plans for the future, and we remain committed to being the best in technology, best in customer relationships, and best in continuous improvement.
“Becoming part of the great trade organisation that is TFKable Group is a vital next step for JDR in achieving its aspirations.”
The acquisition of JDR by TFKable was initially announced in July 2017. The Polish group has enjoyed a long history of collaboration with JDR, having provided water-blocked power cores for its cable and umbilical systems.
Monika Cupiał-Zgryzek, CEO of TFKable Group, said: “This will increase our production capacity and will allow us to further develop and leverage JDR’s cable systems and umbilicals. It builds a greater presence in particular global markets, such as offshore wind.
“Our priority is to maintain continuity of TFKable Group’s operations, while simultaneously developing new technologies, deepening client relationships and further improving our manufacturing and sales processes.
“After completion, we will be working more closely with JDR on multiple levels, including developing our shared product portfolio, expanding sales and extending our client services.”
JDR designs, engineers and manufactures subsea power cables, production umbilicals, intervention workover control systems and end terminations and accessories.
The company also operates from two offices in Cambridge and Littleport, Cambridgeshire.
TFKable Group adds JDR’s two UK production sites in Hartlepool and Littleport to its existing six in Poland, Ukraine and Serbia.
The group also gains JDR’s other UK facilities in Newcastle and adds overseas sales and service units in the US, Brazil and Singapore.
As a result of the acquisition, TFKable Group will employ nearly 4,000 people worldwide.