Market Overview

General Cable Closes Purchase of Alcan Cable China

Share:
Related BGC
Top Performing Industries For February 9, 2015
Earnings Scheduled For February 4, 2015

General Cable Corporation (NYSE: BGC) (the Company) announced today that it has completed the acquisition of Alcan Cable China. Alcan Cable China represents approximately 10% to 15% of overall revenues of Alcan Cable.

The Company estimates that the overall Alcan Cable business will contribute approximately $650-$700 million in annual revenues at current aluminum prices, and over a cycle, the operating margin profile is expected to be consistent with the Company's existing businesses as manufacturing, logistics, and purchasing synergies are realized. The Company expects Alcan Cable North America to contribute meaningfully in the fourth quarter of 2012 while Alcan Cable China's contribution is expected to be de minimis to fourth quarter results as step-up purchase accounting adjustments offset the base earnings in the business in China.

Posted-In: News Guidance

 

Related Articles (BGC)

Around the Web, We're Loving...

Get Benzinga's Newsletters

Our Experts vs. S&P 500Powered by Benzinga
Marketfy Products Return S&P 500
Morning Profit Maker 42.72% 6.69%
The Option Prophet 91.14% 6.69%
SecretCaps 26.55% 6.69%
Short-Term Trend Trading 11.89% 6.69%
View the highest rated products→