Southwire Completes Purchase of AIW Assets
CARROLLTON, Ga., Feb. 25 /PRNewswire/ -- Southwire Company today announced that it has completed the asset purchase of Rhode Island based American Insulated Wire Corporation (AIW), a subsidiary of Leviton.
Southwire has acquired certain assets of AIW, including the AIW brands and two manufacturing facilities in Douglas, GA, and Coffeyville, KS, both of which produce a variety of building wire products for commercial, industrial and OEM markets.
"Acquiring the AIW assets will allow Southwire to become stronger in construction, industrial, OEM and retail market segments and will enhance our ability to serve customers in the fast-growing renewable energy market," said Stuart Thorn, Southwire CEO. "AIW's product diversity and strong manufacturing expertise make it a perfect fit for Southwire's commitment to industry leading service for our customers by offering the broadest range of wire and cable products available from one manufacturer."
"Demand for flexible cable products, particularly in alternative energy markets, continues to grow," added Thorn. "By integrating AIW's product line and manufacturing capacity within Southwire, we will be better positioned to meet that growing market demand."
According to Jack Carlson, President, Southwire Electrical Division, "Southwire can better serve the needs of its customers and channel partners by providing a single source for all wire and cable needs. Now more than ever, our customers need the ability to lower transaction costs, reduce inventories, and offer special services that improve efficiencies and increase the safety of their customers' electrical installations. Southwire's broad and innovative product offering, industry leading fill-rates and lead times, along with our nine distribution centers, meet these needs and allow our customers to be more successful."
"We are particularly excited about the acquisition because it brings a variety of additional products to our cable mix," said Carlson. "The addition of products such as telephone power, mining and DLO cables and the enhancement to our portable rubber cord offering, solidifies Southwire's position as a leading manufacturer of wire and cable products for the commercial and industrial markets."
The acquisition also builds upon Southwire's strategy to be the leading supplier with the broadest product offering for OEM customers. "OEM customers look to us to provide specific products and services to make their manufacturing processes easier," said Norman Adkins, president of Southwire's OEM Division. "Acquiring AIW's assets allows us to better meet these needs with an expanded product offering including cables used by manufacturers of renewable energy, entertainment, welding, and a wide range of other equipment."
"Over the past 50 years, Southwire has established itself as a market force in the wire and cable industry by providing innovative, high quality products and services to our customers," summed up Thorn. "This acquisition further solidifies Southwire as the best choice for customers seeking a complete line of quality products from the industry's lowest-cost provider."
About Southwire Company
A leader in technology and innovation, Southwire Company is one of North America's largest wire and cable producers. We manufacture building wire and cable, metal-clad (MC) cable, FlatWire Ready® products, cord products, utility cable products, industrial power cable, OEM wire products, copper and aluminum rod and continuous casting technology. Southwire is also a leading supplier of wire and cable installation tools by MAXIS™ to the commercial, industrial and utility construction markets. To learn more about our products, our community involvement and our vision for a sustainable Southwire, please visit us on the web at www.southwire.com.
SOURCE Southwire Company