Traded as Nasdaq Copenhagen: NKT Founded 1891 | Founder H.P. Prior | |
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Type Publicly traded Aktieselskab Industry Industrial conglomerate Key people Michael Hedegaard Lyng (Group Executive Director), Jens Due Olsen (Chairman) Products Power cables, professional cleaning equipment, optical fibres Revenue EUR 2,224 million (2015) Stock price NKT (CPH) DKK 512.00 +3.50 (+0.69%)17 Mar, 4:59 PM GMT+1 - Disclaimer Headquarters Brøndby Municipality, Denmark Subsidiaries Nilfisk, NKT Flexibles, Altscher GmbH | ||
NKT Holding is a holding company and industrial conglomerate with interests in cables and wires, professional cleaning equipment and high-pressure cleaners for both industry and private use as well as optical components, lasers and crystal fibres.
Contents
- History
- Business areas
- NKT Cables
- Nilfisk
- NKT Photonics
- International operations
- Members of the Board of Directors of NKT Holding
- References
The company is listed on Nasdaq Copenhagen Copenhagen Stock Exchange and has been so since 1898. In 1991, the company was restructured as a holding company focusing on the core business with international potential. Its current strategy follows this path with a "best owner"-philosophy, focusing on value creation in subsidiaries.
The company employs almost 9,000 employees worldwide with production facilities in nine countries in Europe, North America and Asia.
NKT Holding is the parent company, with 3 main subsidiaries, being;
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 Traadfabriker".
Over the next more than 90 years the company is active in a number of sectors outside the cable industry, including glass, aluminium, steel, nails, fasteners etc. primarily for the Danish market.
In 1990 the current company structure is established and over the next 10 years, begins merging and selling of several companies in the portfolio with the aim to concentrate on a smaller number of core businesses with major international potential. The past decade, the company has continued that path, founded by the "best owner" philosophy, where NKT Holding provides a kind of industrial home for each entity until such time as the may be ready for further development and growth under "better" ownership. This way, 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 November 2012.
NKT's long-term strategic targets are related to growth, a return on capital employed (RoCE) of +15% and dividend pay-out of 1/3 of profit.
Business areas
NKT Holding is divided into three main business areas: Cables and wires, professional cleaning equipment and photonics. These business areas are expressed in the three main subsidiaries.
NKT Cables
NKT Cables produces cables and supplies the energy sector. The subsidiary is headquartered in Cologne, Germany, and its markets are predominantly Europe and China. The company's strategic focus is electricity infrastructure for offshore wind farms and onshore power plants. The other main areas are wire systems and signalling cables for railways, cables for construction and wires for the automotive industry.
NKT Cables was founded by Dane Hans Peter Prior in 1891 and became a listed company in the Copenhagen Stock Exchange in 1898. During the next 90 years the company became one of the largest industrial companies in Denmark, focusing on cable manufacturing as well as electricity, telecommunications and metal products for the Danish market. When the company structure was changed in 1991, NKT Cables continued as a business area within the NKT Group.
In the 1960s, NKT Cables 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 1999 NKT Cables acquired German cable manufacturer Felten & Guilleaume, doubling the production capacity and adding businesses in the Czech Republic, China and Austria. NKT Cables headquarters subsequently moved to Cologne.
In 2013 NKT Cables acquired Swedish cable manufacturer Ericsson Cables in Falun, Sweden.
In 2017 NKT Cables acquired Swedish-Swiss High Voltage Cable Manufacturer, ABB HVC from the ABB Group including the HVC plant at Karlskrona and the Installation Vessel Victoria along with its offices in Karlskrona, Alingsas and part of the offices in Malmo, Rotterdam and Mannheim.
Nilfisk
See Nilfisk
NKT Photonics
NKT Photonics is working with a series of technologically sophisticated products and solutions within the optical fiber technology. The main focus of the subsidiary is Imaging & Metrology, Sensing & Energy and Material Processing.
NKT Photonics is headquartered in Birkerød, Denmark and is a spin-off of current and former NKT subsidiaries and a result of NKT involvement in optical communications starting in the 1980s. Today, NKT Photonics sell R&D to the industrial market collaboration with for example Leica and Horiba Scientific on fiber laser technology.
International operations
NKT is present all over the world, both with sales offices and with production facilities and factories. NKT Holding A/S, Nilfisk and NKT Photonics are all headquartered in Denmark, whereas the NKT Cables has its headquarters in Cologne, Germany.
NKT Holding has subsidiaries in more than 100 countries worldwide. The subsidiaries run production sites in Denmark, Germany, United States, China, Hungary, Italy, Czech Republic, Poland and Mexico.