ABB sells US cable production to Southwire
ABB is parting with its cable production in Huntersville/North Carolina. The purchaser is Southwire, which is based in Carrollton/ Georgia,............
and the final sale is to be concluded by the 3rd quarter 2015.
Southwire is one of the leading cable manufacturers in the USA with approx. 7,000 employees and a turnover of approx. USD 5.8 bn (EUR 5.3 bn) in 2014. The acquisition enables Southwire to strengthen its position especially in the field of underground high-tension cable, a segment in which the company is already leader today.
However, ABB still plans to maintain its involvement in the cable business for the North American region; it says the sale of its production facility in Huntersville is merely a part of its next-level strategy, aimed at optimizing its business and developing new business models while building up new partnerships.