/images/EquipWiringCord_button.jpg/images/300pxWide.gifSouthwire Enhances Presence in OEM Market with CableTech Acquisitionsouthwire-oem-market-cabletech-acquisition.htm
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Southwire Enhances Presence in OEM Market with CableTech Acquisition

Deal Includes Asset Purchase in Mineral Wells, Texas

(Carrollton, Georgia – November 14, 2008) –Southwire Company today completed its acquisition of the assets of CableTech Global, L.P., a wholly-owned subsidiary of GenTek Inc. Based in Mineral Wells, CableTech Global is a Texas-based manufacturer of wire and cable products used in industrial applications and for various other selected markets. This acquisition builds upon Southwire’s plan to invest and grow in the original equipment manufacturer (OEM) market.

“We are very pleased to have the opportunity to strengthen our product lines that are central to Southwire’s strategic growth plan.  This acquisition demonstrates our strong commitment to the OEM market – an area where we see potential for tremendous growth,” said Stu Thorn, Southwire’s president and CEO. “The acquisition also allows us to further build upon our industry leading fill rates and lead times.”
Southwire will continue to operate the Mineral Wells facility.  The plant’s location fits well with Southwire’s family of manufacturing facilities and customer service centers. This plant will provide Southwire’s OEM Division with the valuable added capacity and manufacturing expertise to service the OEM market.

CableTech Global designs, manufactures and engineers electrical and electronic wire and cable products for the industrial and various other selected markets.  Its manufacturing facility in Mineral Wells uses state-of-the-art equipment to manufacture a wide range of cable products.
The acquisition fits perfectly with Southwire’s strategy to grow within the OEM market segments, while developing closer ties to its OEM customers, according to Norman Adkins, president of Southwire’s OEM Division.
“It’s very important that we forge strong relationships with our OEM customers and remain sensitive to their needs,” Adkins said. “Exceeding our customers’ expectations has been a key to our success. We must continually focus on what they think is important and on what truly delivers value. Our customers expect to grow and we must grow with them by offering a compelling competitive advantage in the marketplace. With this acquisition, we expect a smooth transition for our current and future customers.”
News of today’s acquisition follows an earlier announcement by Southwire that it plans to invest $6.5 million in its Watkinsville, Ga. plant. That facility – which currently manufactures a variety of building wire products – is being reorganized to focus mainly on producing bare copper strand, allowing Southwire to move sourcing of bare copper in-house. The move provides a crucial role for the Watkinsville plant, strengthening its position for the future.

About Southwire Company
A technology leader, Southwire Company is a major wire and cable provider in North America, manufacturing building wire and cable, metal-clad (MC) cable, cord products, utility cable products, industrial power cable, copper and aluminum rod and continuous casting technology.   Please visit Southwire’s website at www.southwire.com.