NEWS RELEASE

Panduit Announces Acquisition of Subsea Cable and Pipe Protection Product Portfolio from DongWon EN-Tec Co., Ltd

Expands Portfolio for Offshore Alternative Energy & Optical Communications Customers in Asia-Pacific Region

TINLEY PARK, Ill. — (January 11, 2023) — Panduit Corp., a global leader in innovative electrical and network infrastructure solutions, announced that it has acquired the subsea cable and pipe protection product portfolio and related technologies from South Korea marine manufacturer DongWon EN-Tec Co., Ltd. (DWE). The product portfolio includes URAPROTECT®, a polyurethane submarine cable and pipe protector solution, bend stiffeners and restrictors, and J-Tube seals for wind turbine applications. Terms of the transaction were not disclosed.

This transaction allows Panduit to offer its Asia-Pacific customers a wider breadth of capabilities and a growing portfolio of complementary high-quality industrial products used for protecting power cable and fiber optic subsea cable installations against hazardous conditions. The acquisition will also help the company further diversify its customer base and expand into markets at the forefront of megatrends within the offshore alternative energy and global communications bandwidth space.

“I am pleased to complete this acquisition with our Asia Pacific team which expands our portfolio of high-quality products for offshore wind customers,” explained John Buck, Panduit vice president for electrical infrastructure. “The acquisition of DWE’s product line and technology will allow us to accelerate our renewables growth strategy and invest in new product innovations for our customers as they build larger offshore wind installations in the future.”