General Cable Corporation 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.
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