HIGHLAND HEIGHTS, Ky., Apr 04, 2005 (BUSINESS WIRE) -- General Cable Corporation (NYSE:BGC) announced today
that it has reached a 4 year agreement with Local Union No. 4543 of
the United Steelworkers of America (USWA). The Local Union, which
represents 180 production and maintenance workers at the Company's
Lincoln, Rhode Island facility, voted to ratify the agreement on
Saturday, April 2. The union members will return to work today.
"We are happy that an agreement could be reached quickly," said
Greg Lampert, Vice President and General Manager at General Cable.
"The agreement meets the strategic and financial needs of the Company,
particularly with respect to healthcare coverage and employee
contributions, while also providing a fair wage and benefits package
for our Lincoln hourly associates."
General Cable (NYSE:BGC), headquartered in Highland Heights,
Kentucky, 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, specialty and
communications markets. 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 include economic and
political consequences resulting from the September 2001 terrorist
attack and the war with Iraq, domestic and local country price
competition, particularly in certain segments of the power cable
market and other competitive pressures; general economic conditions,
particularly in construction; changes in customer or distributor
purchasing patterns in our business segments; the Company's ability to
increase manufacturing capacity and productivity; the financial impact
of any future plant closures; the Company's ability to successfully
complete and integrate acquisitions and divestitures; the Company's
ability to negotiate extensions of labor agreements on acceptable
terms; the Company's ability to service debt requirements and maintain
adequate domestic and international credit facilities and credit
lines; the Company's ability to pay dividends on its preferred stock;
the impact of unexpected future judgments or settlements of claims and
litigation; the Company's ability to achieve target returns on
investments in its defined benefit plans; the Company's ability to
avoid limitations on utilization of net losses for income tax
purposes; the cost of raw materials, including copper and aluminum;
the Company's ability to increase its selling prices during periods of
increasing raw material costs; the impact of foreign currency
fluctuations; the impact of technological changes; and other factors
which are discussed in the Company's Report on Form 10-K filed with
the Securities and Exchange Commission on March 30, 2005, as well as
periodic reports filed with the Commission.
SOURCE: General Cable Corporation
General Cable Corporation
Paul M. Montgomery, 859-572-8684
