Gaon Cable Enters Canadian Public Power Grid Market
Gaon Cable, a subsidiary of LS Cable & System, has entered Canada's public power grid market for the first time.
Gaon Cable said Sept. 9 it recently supplied medium-voltage (MV) cables to a major public utility in western Canada. It marks the company's first export of power cables to Canada.
Gaon Cable plans to use its entry into Canada as a springboard to expand orders in the North American public power grid market. Canada is expanding and modernizing its transmission and distribution networks to meet rising electricity demand driven by the growth of AI data centers and advanced manufacturing.
The company also expects its North American sales to increase. Gaon Cable is expanding local supply through its headquarters and U.S. manufacturing subsidiary LSCUS in North Carolina.
Gaon Cable expects North American sales to rise more than 50% to about $470 million this year from about $300 million last year.
"We will continue to strengthen our presence in the North American power infrastructure market spanning the U.S. and Canada," Gaon Cable CEO Chung Hyun said.