CARROLLTON, Ga., July 6, 2015 /PRNewswire/ -- Southwire
Company has signed an agreement with ABB, Inc., to purchase a
high-voltage and extra high-voltage underground transmission cable
manufacturing plant in Huntersville,
North Carolina.
Through the acquisition, which is expected to close in the third
quarter, Southwire adds extra high-voltage cable products to its
portfolio and expands its capacity to produce high-voltage cable, a
market in which it already is a leading manufacturer.
"We are committed to growing in the global wire and cable
market. Today, we take another step toward that goal as we further
expand our manufacturing capacity and expand our lineup of products
that are made in America for new and existing customers, both here
and around the world," Southwire President and CEO Stu Thorn said. "In addition, today's agreement
paves the way for us to develop a strategic relationship with a
global company like ABB, a recognized leader in power and
automation technologies."
The 240,000-square-foot, 3-year-old plant features
state-of-the-art technology for producing high-voltage and extra
high-voltage underground transmission cables, ranging from 230kV to
400kV. Helping to strengthen North
America's power transmission infrastructure, these cables
distribute massive amounts of electricity and renewable energy –
including wind and solar – in support of the nation's smart grid
initiative.
Southwire's Energy Division supplies a full-line of wire and
cable and provides technical leadership in the power delivery
market. Positioned on a 20-acre site in Commerce Station Business
Park, the Huntersville plant fits
nicely with Southwire's family of manufacturing facilities and
customer service centers in the United
States, Canada,
Mexico, Honduras and China.
"Southwire is a U.S.-based manufacturer expanding on U.S. soil,"
Thorn said. "We are building a business that will be sustainable
into future generations by continually evolving to meet the
changing needs of our industry."
"And as we expand, we remain committed to the communities we
call home," he added. "We look forward to sharing our vision of
corporate sustainability with our new neighbors in Huntersville, North Carolina through our
engaged and highly-skilled plant workforce and through our
innovative, community-building partnerships."
About Southwire Company, LLC
A leader in technology and innovation, Southwire Company, LLC is
North America's largest wire and
cable producer. The company and its subsidiaries manufacture
utility wire and cable, building wire and cable, industrial power
cable, OEM wire products, SCR® copper and aluminum rod and
continuous casting technology. Southwire offers a robust line of
equipment and tools used by contractors in the installation of
those products. To learn more about Southwire's products and
innovation, community involvement, and vision for a sustainable
future, please visit www.southwiresustainability.com.
About ABB
ABB (www.abb.com) is a leader in power and automation
technologies that enable utility, industry, and transport and
infrastructure customers to improve their performance while
lowering environmental impact. The ABB Group of companies operates
in roughly 100 countries and employs about 140,000
people.
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SOURCE Southwire Company