Autumn greetings from our CEO
Di. Okt. 03 09:00:00 2023
Nestor Cables’ year has been good and deliveries, especially during the first half of the year, have been at a high level. We have also sought growth in export markets, for example in Germany. Last week we were at Connected Britain in England, where the construction of optical fiber networks continues at fever pitch. At the event we introduced our time and money saving Plug and Play solution to industry players, who showed great interest in it. In Finland, we are already piloting this new way of building a fiber optic networks. The solution is based on the use of fiber optic cables that have already been terminated at the factory which minimizes the amount of welding during installation. Our parent company Clearfield Inc. has already used several Plug and Play products in the American market with success.
However, there are still dark clouds in the sky, and this is not only due to autumn. Russia's war of aggression continues in Ukraine and the world economy is going in a worse direction. After a good start to the year and spring, accelerating inflation and rising interest rates started to put a brake on the purchasing and investment behavior of both consumers and companies. This was not only a Finnish phenomenon, but global economic growth started to take a sudden turn for the worse. The development has also had an impact on the construction of optical fiber networks. Even though the construction of fiber networks in Finland has been at a record level, not all projects have progressed exactly according to plans during this autumn.
Even though the world economy is now unstable, I believe that the construction of fiber optic networks will continue at a good level, both here in Finland and around the world. Fiber optic connections guarantee fast and efficient data transfers between individuals and companies. National governments have realized the importance of fast and scalable fiber optic networks to improve the competitiveness of nations and companies. Therefore, fibre optic networks can be a good investment.
I believe that after the quieter winter season, in the spring and especially next summer, we will see a pick-up both in the world economy and in the construction of fiber optic networks. We at Nestor Cables will then be ready to increase our production volume and serve our customers both in Finland and around the world.
CEO of Nestor Cables Ltd.