General Cable To Pay $185M For Rio Tinto’s Wire Biz

Law360, New York (May 21, 2012, 8:01 PM EDT) -- Kentucky-based cable manufacturer General Cable Corp. announced Monday it will purchase Alcan Cable, the wire and cable business of Rio Tinto PLC, for $185 million in cash in an acquisition expected to boost General Cable's revenues $650 million to $700 million annually at current metal prices.

Atlanta-based Alcan Cable employs about 1,050 workers in its aluminum cable manufacturing and distribution facilities servicing the energy and construction markets in the U.S., Canada, Mexico and China, according to an announcement released by General Cable.

In 2011, Alcan Cable...
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