HIGHLAND HEIGHTS, Ky.--(BUSINESS WIRE)--General Cable Corporation (NYSE: BGC), a global leader in ignition wire harness technology, reported today that it has acquired Beru SAS, a wholly-owned subsidiary of BorgWarner France SAS, located in La Ferte Mace, France. The business will operate as General Cable Automotive Europe (GCAE) going forward. GCAE is a premier manufacturer of ignition wire harnesses sold into the European automotive OEM market as well as the aftermarket.
Roger Roundhouse, Senior Vice President and General Manager, Specialty Wire Harnesses said, “The GCAE acquisition is an important step in the globalization of our ignition wire harness business and supports the strategy to participate in the increasingly homogenous global market for these products. Our wire harness business now has operations in the United States, Mexico and France. From these locations, the Company is participating in a significant portion of the global automotive market for ignition wire harnesses. In its first year of operations we expect this business to report in excess of $20 million in revenues. This acquisition is important in satisfying multi-national customers who see value in having global partners support their business in the ignition wire harness category."
General Cable (NYSE:BGC), a Fortune 500 Company, is a global 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. For more information about General Cable, 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, risks, and uncertainties are more fully discussed in the Company's Report on Form 10-K, as amended, originally filed with the Securities and Exchange Commission on March 1, 2010, as well as periodic reports filed with the Commission.
General Cable Corporation
Michael P. Dickerson, Vice President of Finance and Investor Relations, 859-572-8684