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General Cable Completes Sale of Its North American Automotive Ignition Wire Business

HIGHLAND HEIGHTS, Ky.--(BUSINESS WIRE)--May 31, 2016-- General Cable Corporation (NYSE: BGC) today announced that it has completed the sale of its North American automotive ignition wire business to Standard Motor Products, Inc. (NYSE: SMP) for cash consideration of approximately $71 million, subject to customary post-closing adjustments. Proceeds will be used to reduce outstanding borrowings.

General Cable (NYSE:BGC), a Fortune 500 Company, is a 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.

Source: General Cable Corporation

General Cable Corporation
Len Texter, Senior Vice President
Global Finance & Investor Relations
859-572-8684