Early in April, Southwire Co., Carrollton, Ga., completed its acquisition of Cable Tech's wire and cable assets. These assets include Cable Tech's plant in Stouffville, Ontario, which manufactures wire and cable products used in the residential, commercial construction and original equipment manufacturer (OEM) markets.
Last year, Southwire announced it would invest an additional $250 million in new facilities and equipment. This Cable Tech acquisition is part of that plan. Along with future organic investments, this acquisition provides an important manufacturing presence in Canada, while enhancing Southwire's product offerings. It also builds on Southwire's industry leadership in fill rates and lead times, said a press release.
“The Cable Tech acquisition helps better position Southwire for long-term growth with all our North American partners and gets us closer to those in Canada,” said Southwire President and CEO Stu Thorn.
Located just north of Toronto, the Stouffville manufacturing facility will be supported by Southwire's existing supply chain infrastructure. In addition, other Southwire manufacturing facilities will provide the Canadian market with products not manufactured in Stouffville.
Southwire Co. is a major wire and cable provider in North America, manufacturing building wire and cable, metal-clad (MC) cable, cord products, utility cable products, industrial power cable, copper and aluminum rod and continuous casting technology.