HIGHLAND HEIGHTS, Ky., Sep 23, 2010 (BUSINESS WIRE) --
General Cable Corporation (NYSE: BGC) (the Company), announced
today that it has formed a joint venture with International Cable
Industries LLC (ICI), a limited liability company organized in Oman. The
joint venture company in which General Cable will have a majority
interest will distribute a wide variety of wire and cable products for
the energy, electrical infrastructure and construction markets in Oman
and other Gulf Cooperation Council (GCC) countries. General Cable will
provide access to a wide range of its products and offer technical
support to ICI.
The Company believes the demand for wire and cable products in Oman and
the GCC region will continue to grow due to increasing investment in
infrastructure and power generation projects as well as a regionally
favorable GDP outlook. Countries throughout the region continue to
invest in large-scale transport, construction, oil and gas, power
generation, transmission and distribution infrastructure.
"We believe the formation of this joint venture is significant in
establishing an important local presence in the growing markets in the
Gulf region," said Mathias Sandoval, Executive Vice President, President
and Chief Executive Officer of General Cable Rest of World. "This new
venture will allow us to improve the supply of the full range of General
Cable products into the Region," said Roddy Macdonald, Executive Vice
President of Global Sales and Business Development, who will lead this
business in Oman.
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
