CARROLLTON, Ga., July 6, 2015 /PRNewswire/ -- Southwire Company has signed an agreement with ABB, Inc., to purchase a high-voltage and extra high-voltage underground transmission cable manufacturing plant in Huntersville, North Carolina.
Through the acquisition, which is expected to close in the third quarter, Southwire adds extra high-voltage cable products to its portfolio and expands its capacity to produce high-voltage cable, a market in which it already is a leading manufacturer.
"We are committed to growing in the global wire and cable market. Today, we take another step toward that goal as we further expand our manufacturing capacity and expand our lineup of products that are made in America for new and existing customers, both here and around the world," Southwire President and CEO Stu Thorn said. "In addition, today's agreement paves the way for us to develop a strategic relationship with a global company like ABB, a recognized leader in power and automation technologies."
The 240,000-square-foot, 3-year-old plant features state-of-the-art technology for producing high-voltage and extra high-voltage underground transmission cables, ranging from 230kV to 400kV. Helping to strengthen North America's power transmission infrastructure, these cables distribute massive amounts of electricity and renewable energy – including wind and solar – in support of the nation's smart grid initiative.
Southwire's Energy Division supplies a full-line of wire and cable and provides technical leadership in the power delivery market. Positioned on a 20-acre site in Commerce Station Business Park, the Huntersville plant fits nicely with Southwire's family of manufacturing facilities and customer service centers in the United States, Canada, Mexico, Honduras and China.
"Southwire is a U.S.-based manufacturer expanding on U.S. soil," Thorn said. "We are building a business that will be sustainable into future generations by continually evolving to meet the changing needs of our industry."
"And as we expand, we remain committed to the communities we call home," he added. "We look forward to sharing our vision of corporate sustainability with our new neighbors in Huntersville, North Carolina through our engaged and highly-skilled plant workforce and through our innovative, community-building partnerships."
About Southwire Company, LLC
A leader in technology and innovation, Southwire Company, LLC is North America's largest wire and cable producer. The company and its subsidiaries manufacture utility wire and cable, building wire and cable, industrial power cable, OEM wire products, SCR® copper and aluminum rod and continuous casting technology. Southwire offers a robust line of equipment and tools used by contractors in the installation of those products. To learn more about Southwire's products and innovation, community involvement, and vision for a sustainable future, please visit www.southwiresustainability.com.
ABB (www.abb.com) is a leader in power and automation technologies that enable utility, industry, and transport and infrastructure customers to improve their performance while lowering environmental impact. The ABB Group of companies operates in roughly 100 countries and employs about 140,000 people.
SOURCE Southwire Company