International Wire Completes the Acquisition of the U.S. Operations
[2008-7-31]
Tag : bare copper wire
News International Wire Completes the Acquisition of the U.S. Operationsof Global Wire Inc. and Equipment Owned by an Affiliate. International WireGroup, Inc. (PINK SHEETS: ITWG) today announced that it hascompleted the acquisition of the U.S. assets and operations ofGlobal Wire Inc.
("Global Wire") and certain equipment owned by anaffiliated company pursuant to an asset purchase agreement datedJune 3, 2008. The Company financed the transaction withavailability under its existing revolving credit agreement andprojects that the transaction will be accretive to 2008 earningsper share.
About International Wire Group, Inc.
International Wire Group, Inc. is a manufacturer and marketer ofwire products, including bare, silver-plated, nickel-plated andtin-plated copper wire, for other wire suppliers, distributors andoriginal equipment manufacturers or "OEMs."
Its products include abroad spectrum of copper wire configurations and gauges with avariety of electrical and conductive characteristics and areutilized by a wide variety of customers primarily in the aerospace,appliance, automotive, electronics/data communications,industrial/energy and medical device industries. The Companymanufactures and distributes its products at 18 facilities locatedin the United States, Belgium, France and Italy.
News International Wire Completes the Acquisition of the U.S. Operationsof Global Wire Inc. and Equipment Owned by an Affiliate. International WireGroup, Inc. (PINK SHEETS: ITWG) today announced that it hascompleted the acquisition of the U.S. assets and operations ofGlobal Wire Inc.
("Global Wire") and certain equipment owned by anaffiliated company pursuant to an asset purchase agreement datedJune 3, 2008. The Company financed the transaction withavailability under its existing revolving credit agreement andprojects that the transaction will be accretive to 2008 earningsper share.
About International Wire Group, Inc.
International Wire Group, Inc. is a manufacturer and marketer ofwire products, including bare, silver-plated, nickel-plated andtin-plated copper wire, for other wire suppliers, distributors andoriginal equipment manufacturers or "OEMs."
Its products include abroad spectrum of copper wire configurations and gauges with avariety of electrical and conductive characteristics and areutilized by a wide variety of customers primarily in the aerospace,appliance, automotive, electronics/data communications,industrial/energy and medical device industries. The Companymanufactures and distributes its products at 18 facilities locatedin the United States, Belgium, France and Italy.
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