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General Cable forms joint ventures in India

General Cable Corp. has formed two joint venture companies in India with the Plaza Cable Group of Companies.


April 18, 2007  


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General Cable Corp. has formed two joint venture companies in India with the Plaza Cable Group of Companies.

The ventures, headquartered in New Delhi, will incorporate all of Plaza’s existing wire and cable assets.

Plaza, with annual revenues of approximately US$25 million, currently manufactures low and medium voltage energy and construction cables for the Indian market.

When completed, General Cable will hold a majority interest in both companies with the remaining interest held by the current owners.

The company expects to use available cash to fund both the initial purchase price and any required short-term capital investments.

Over the next two years the company plans to invest up to US$40 million to expand cable production of low, medium and high voltage electric utility products.