Taihan Electric Wires Unit Signs Deal in S. Africa

Taihan Electric Wire said Thursday its South African subsidiary has sealed a $400 million deal with Eskom Holdings Ltd. to provide high-tension electric cables.

The deal calls for Malesela Taihan Electric Cable (M-TEC) to supply the South African state power company with $80 million worth of high-tension electric cables a year for five years from 2008, Taihan Electric Wire said.

M-TEC has an option to extend the deal for two years, the wire and stainless steel maker said.