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General Cable to acquire wire and cable business of Freeport-McMoRan Copper & Gold

General Cable Corp. today agreed to acquire the


September 12, 2007  


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General Cable Corp. today agreed to acquire the
global wire and cable business of Freeport-McMoRan Copper & Gold Inc., which operates as Phelps Dodge International Corporation (PDIC).

PDIC was acquired by Freeport as part of the acquisition of Phelps Dodge Corp. in March 2007.

The purchase price is approximately US$735million.

On an annual basis, General Cable estimates that the acquisition will contribute approximately US$1.4 billion in revenues at current metal prices

The combined companies expect to derive additional benefits over time through cross-selling opportunities, logistics and purchasing synergies, Data General said in a statement.