GenTek buys Krone in $400 m deal

US company GenTek has acquired Krone for $400 million, the companies announced last week. Bob Fitzgerald, regional director in the Asia Pacific for the Krone Group, welcomed the sale, which was effective July 1.

Together with GenTek subsidiary, cabling specialist Prestolite Wire, Krone now forms the telecomms division of GenTek.

Ftizgerald said the acquisition would strengthen future prospects for both companies by adding a widened product range.

Krone's branding will remain unchanged, Fitzgerald said.

He said the deal would have little impact on Krone's operations in the Asia/Pacific region, since Prestolite has only a small presence in the region.

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