Cable Technology Feature Article
General Cable Corporation Acquires Alcan Cable's North American Business
By Nathesh, TMCnet Contributor
General Cable, a manufacturer and distributor of copper, aluminum and fiber optic wire and cable products, stated that it has bought the North American business of Alcan Cable for $151 million.
Alcan Cable, which reportedly has over 100 years of experience in the production of aluminum cable for the utility and building industries, offers a wide range of bare and insulated conductors to both the utility and distribution markets. The North American business of Alcan Cable is worth 85 to 90 percent of the company’s overall revenue.
General Cable estimated that Alcan Cable should bring in $650 to $700 million in annual revenue at current aluminum prices and at the end of this year expects to buy Alcan Cable’s China unit for $34 million.
“We welcome Alcan Cable associates to General Cable and look forward to immediately sharing best practices as we realize manufacturing, logistics, and purchasing synergies created by this acquisition. Expanding our product portfolio through an enhanced aluminum-based cable offering further strengthens the value proposition to our electrical distributors and utility customers alike. The addition of aluminum rod and strip manufacturing provides vertical integration benefits as well as a new segment of valued OEM customers”, stated Gregory J. Lampert, president and chief executive officer at General Cable North America, in a press release.
General Cable claimed that its cables carry energy across the world – through the air, underground and under the sea. It is a critical link in bringing power to homes and offices, cities and continents – seamlessly and reliably. The company offers competitive strengths in such areas as breadth of product line, brand recognition, distribution and logistics, sales and service, and operating efficiency.
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Edited by Brooke Neuman