- Assembly and power chord provider Volex said it had agreed to acquire Ta Hsing Industries for up to $5.5m.

Hong Kong-based Ta Hsing currently supplied power cables to Volex and other customers from its main manufacturing site in Shenzhen, China.

'The acquisition marks an important step in our development from an assembler of power products reliant on third parties for critical components to a more vertically integrated and efficient producer,' said Girish Gopinath, the chief financial officer of Volex's power chord division.

'In addition, it will help us bridge gaps in capabilities, services and footprint.'

At 1:24pm: [LON:VLX] Volex Group PLC share price was +1.9p at 96.9p

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