NKT A/S

Type	Publicly traded Aktieselskab
Traded as	Nasdaq Copenhagen: NKT
Industry	Power cables
Founded	1891
Founder	H.P. Prior
Headquarters	Copenhagen , Denmark
Key people	Claes westerlind (CEO), Jens Due Olsen (Chairman)
Products	Power cables
Revenue	EUR 1.3bn (2021)[1]
Number of employees	app. 4,100 (2022)
Website	https://www.nkt.com/

NKT A/S (formerly NKT Holding A/S) produces low-, medium- and high-voltage power cable solutions and accessories, primarily focused on the European market. It is best known for it's offshore high-voltage DC cables that are connecting offshore wind farms to onshore grids. They have also supplied major interconnector projects that connect regions or countries with high voltage power highways. Their low- and medium-voltage solutions are used to support the build out of the electricity grid and onshore windfarms and solar farms. NKT is also a specialist within building wires on residential, business, and industrial scales.

The company is listed on Nasdaq Copenhagen Copenhagen Stock Exchange. NKT employs approximately 4500 worldwide with production facilities in 10 European countries.

History

The company was founded in 1891 by H.P Prior, who would later become chairman of the Danish industry council, under the name of "Nordisk Elektrisk Ledningstraad og Kabel-Fabrik". It quickly expanded, buying up other companies, and in 1898 was named "Nordiske Kabel og Traadfabrik" - from which is derived its current name, NKT.

Over the next 90 years the company was active in a number of sectors outside the cable industry, including glass, aluminium, steel, nails, fasteners etc. primarily for the Danish market.

In the 1960s, NKT started recycling scrap from cable production in its facility in Stenlille, Denmark. The company introduced lead-free cables and halogen and PVC-free cables as part of a renewed environmental focus in the 1990s.

In 1990 the current company structure was established. Over the next 10 years, a series of mergers and sell offs were made with the aim of concentrating on a smaller number of core businesses. NKT Holding sold the electricity distribution manufacturer Lauritz Knudsen to Schneider in 1999, the semi-conductor manufacturer GIGA to Intel in 2000, and the underwater pipe manufacturer NKT Flexibles in 2012.

In 1999 NKT acquired German cable manufacturer Felten & Guilleaume, doubling the production capacity and adding businesses in the Czech Republic, China and Austria. NKT headquarters subsequently moved to Cologne. In 2013, NKT acquired Swedish cable manufacturer Ericsson Cables in Falun, Sweden.

In 2016, the NKT Board of Directors announced the intent to split NKT Holding A/S into two separately listed companies, NKT (incl. NKT Photonics) and Nilfisk, as a consequence of the acquisition of ABB HV Cables business. The split took place in October 2017.

In 2017, NKT acquired Swedish-Swiss High-Voltage Cable Manufacturer, ABB HV Cables from the ABB Group including the high-voltage plant in Karlskrona and the cable-laying vessel NKT Victoria along with offices in Karlskrona, Alingsas and part of the offices in Malmo, Rotterdam and Mannheim.^[2]

In 2022, NKT decided to sell NKT Photonics and focus 100% on electricity cables.

Business areas

International operations

NKT A/S is present all over the world and has production facilities in Denmark, Germany, Sweden, Norway, Poland, the Czech Republic, the Netherlands, Switzerland and England.

Members of the Board of Directors of NKT A/S

• Jens Due Olsen, Chairman of the Board of Directors
• René Svendsen-Tune, Vice Chairman of the Board of Directors
• Jens Maaløe
• Nebahat Albayrak
• Andreas Nauen
• Karla Marianne Lindahl

References