Change of ownership in JJ-LAPP

Jebsen & Jessen will divest its 50% stake in the JJ-LAPP joint venture to the LAPP Group who will become the sole owner of the business. This agreement which was signed in November last year will enable a more streamlined and optimised supply-chain set-up for the benefit of the customers across ASEAN.

All activities, including the fast-growing renewable energy business, will continue. The name of the business will be changed in due course to reflect the new ownership.

The shareholders have also agreed that Jebsen & Jessen will continue to provide certain business services, including IT support and accounting services, under a separate Transitional Services Agreement. Jebsen & Jessen’s offshore and marine cable activities in Cables International are unaffected by this transaction and will remain unchanged.

Formed in 2004, the JJ-LAPP joint venture has grown from a single-digit million dollar cable distributor into a leading connectivity solutions provider with more than S$200m turnover across ASEAN. This transaction will further unlock efficiencies and synergies and ensure future strong growth for the company.

For JJ-LAPP employees, this transition means becoming part of a global market leader in cable technology with a presence in over 80 countries, 26 production sites, world-renowned brands and a strong reputation for integrated connectivity solutions.