Essex Furukawa Magnet Wire Global Joint Venture
Superior Essex Inc., parent ofย Essex Magnet Wire, andย Furukawa Electric Co., Ltd.ย finalized a global joint venture that formsย Essex Furukawa Magnet Wire LLC. The companies describe this partnership as a unified global magnet wire leader focused onย innovation,ย eโmobility, and customer support. For background, visit Superior Essex, Essex Magnet Wire, and Furukawa Electric.
Benefits of the Essex Furukawa magnet wire joint venture
The new entity expands on their earlier partnership and now operates as aย singleย global organization. Customers gain broaderย custom product solutions, crossโregional sharing of best practices, better service through more shipping points, larger global sales and technical teams, and increased rod and foundry resources with a more diverse innovation team, especially forย EV/HEVย developments. Together, these synergies position Essex Furukawa as a goโto global supplier forย highโperformanceย magnet wire.
Market leadership and technology focus
With the joint venture in place, Essex Furukawa aims to lead technology advancements in magnet wire and related systems, hold strong market positions in North America, Europe, Asia, and Japan, and deepen strategic customer partnerships with major OEMs and Tierโ1 suppliers. It also plans to accelerateย R&Dย for electric vehicle (EV) and hybrid (HEV) platforms and other highโefficiency applications. The company will continue to deliver consistent,ย highโqualityย products while adding advanced technologies tailored forย eโmobilityย and modern industrial needs.
Contract continuity and industry recognition
The partners confirm that they will honor all existing contracts, so the creation of Essex Furukawa does not change current agreements. Customers should see continuity in supply, service, and quality while gaining access to expanded capabilities and a unified technology roadmap. Earlier this year, Essex Magnet Wire received a 2019 Business Partner of the Year Award fromย DENSO, the worldโs secondโlargest mobility supplier, which reinforces the strength and credibility of this joint venture for global mobility andย industrialย customers.
