Stark Corporation Acquires Vietnamese Cable Manufacturers for $240 Million
Stark Corporation has finalized its acquisition of Thinh Phat Cables and Dong Viet Non-Ferrous & Plastic for $240 million, enhancing its production capacity in Southeast Asia. This transaction marks a significant investment in Vietnam's industrial sector, reflecting the country's strong market appeal within ASEAN.
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Stark Corporation's subsidiary, Phelps Dodge International (Thailand) Co Ltd, has acquired Vietnamese companies Thinh Phat Cables and Dong Viet Non-Ferrous & Plastic for $240 million. This deal aims to boost Stark's production capabilities and expand its influence in the power cable sector.
Thinh Phat, established in 1987, is the second largest cable manufacturer in Vietnam, while Dovina specializes in processing copper and aluminum. The total assets of both companies reached approximately $201 million by September 2019, with a combined revenue of VND7.1 trillion. This acquisition is the largest private sector transaction in Vietnam over the past three years, indicating the ongoing attractiveness of the Vietnamese market.
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