HIGHLAND HEIGHTS, Ky., Sep 22, 2010 (BUSINESS WIRE) --
General Cable Corporation (NYSE: BGC), reported today that it has
acquired BICC Egypt. BICC Egypt manufactures a wide variety of wire and
cable products for the electrical markets including low voltage
insulated power and control cables, building wire, instrumentation
cable, halogen free power and control cables, and overhead power cables.
In the last twelve months, the business reported revenues of
approximately $30 million.
The acquisition of BICC Egypt furthers the Company's geographic
expansion by establishing a production and commercial base in one of the
largest and fastest growing markets in the Mediterranean and North
African region. The Company believes the demand for wire and cable
products in Egypt will continue to grow faster than many other nations
due to increasing investment in infrastructure and power generation
projects, a growing population, and a favorable GDP outlook. Egypt
continues to invest heavily in large-scale transport, construction,
power generation, and transmission and distribution infrastructure.
Rapid population growth and high infrastructure investment are expected
to increase the demand for power at a rate more than twice the world
average. "General Cable continues to make progress expanding into the
important Mediterranean and African markets," said Emmanuel
Sabonnadiere, Chief Executive Officer and President of General Cable
Europe and Mediterranean. "From our operations in Egypt, the Company
expects to service both the domestic Egyptian market as well as regional
wire and cable demand through exports. As a result of our strong
presence in Algeria, Egypt, Angola, Zambia and South Africa, the Company
is now a leading manufacturer of power cables in the Mediterranean and
North African region as well as the Sub-Saharan region."
General Cable (NYSE: BGC), a Fortune 500 Company, is a global leader in
the development, design, manufacture, marketing and distribution of
copper, aluminum and fiber optic wire and cable products for the energy,
industrial, and communications markets. For more information about
General Cable visit our website at www.generalcable.com.
Certain statements in this press release, including without
limitation, statements regarding future financial results and
performance, plans and objectives, capital expenditures and the
Company's or management's beliefs, expectations or opinions, are
forward-looking statements. Actual results may differ materially from
those statements as a result of factors, risks and uncertainties over
which the Company has no control. Such factors, risks, and uncertainties
are more fully discussed in the Company's Report on Form 10-K, filed
with the Securities and Exchange Commission on March 1, 2010, as well as
periodic reports filed with the Commission.
SOURCE: General Cable Corporation
General Cable Corporation
Len Texter, 859-572-8684
Manager, Investor Relations
