General Cable Corporation (NYSE:BGC) has announced the acquisition of a substantial portion of the wire and cable assets of Phoenix Power Cables located in Durban, South Africa. From now on, the business will operate as General Cable Phoenix South Africa (GCPSA). The GCPSA is engaged in the manufacture of low and medium voltage electrical power cables and overhead energy transmission and distribution cables. The business reported revenues of $20 million during the past twelve months. It was formerly owned by the Ramkisson family, who will hold a 10% interest in the business.
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General Cable Corporation is engaged in developing, designing, manufacturing, marketing, distributing and installing copper, aluminum and fiber optic wire and cable products. The Company operates in three segments based on geographic regions: North America, which primarily consists of operations in the United States and Canada; Europe and North Africa, and Rest of World (ROW), which consists of operations in Latin America, Sub-Saharan Africa, Middle East and Asia Pacific. The products of the Company include electric utility products, electrical infrastructure products, construction products, communication products and rod mill products. On May 21, 2008, the Company entered a joint venture for majority ownership of E.P.E / EN.I.CA.BISKRA/SPA (Enica Biskra). In August 2009, it acquired Gepco International, Inc. and Isotec, Inc. (collectively, Gepco). Gepco is a manufacturer and provider of cabling solutions for the professional broadcast and entertainment markets.
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