General Cable Corporation announced that it has completed the acquisition of Alcan Cable China. Alcan Cable China represents approximately 10% to 15% of overall revenues of Alcan Cable.
Mr Alex Tham MD Alcan Cable China said that "Alcan Cable China has a 430,000 square foot vertically integrated manufacturing plant in Tianjin, China and ten regional sales offices. Since its start up in 2007 the business has matured in a relatively short amount of time building a sales infrastructure and a premium brand with a strong reputation in the Chinese market which represents nearly one-third of global wire and cable demand. We believe the synergies of this acquisition coupled with an established platform from which to introduce and grow other General Cable product lines further enhances the value proposition to our customers. We are honored and proud to become part of General Cable."
Mr Gregory B Kenny president and CEO of General Cable said that "We are pleased to have completed the second and final step of the acquisition of Alcan Cable. We have brought together two companies with more than 200 years of combined experience in the wire and cable industry serving important markets in North America and now China. Alcan Cable China is highly complementary to our two long-standing partnerships in China and continues to generate positive momentum in the market. We are off to a fast start executing on our integration plans in North America and expect to do the same with the business in China."
Source - Financialpost.com
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