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© bakhtiarzein dreamstime.com Electronics Production | July 06, 2015

ABB sells US cable factory to Southwire

ABBhas signed an agreement to divest its Huntersville, North Carolina, cable factory to Southwire Company, LLC.
Southwire is a North American wire and cable manufacturer headquartered in Carrollton, Georgia. The parties have mutually agreed not to disclose the financial terms of the transaction. Closing is expected in the third quarter of 2015.

ABB and Southwire will also pursue a business partnership to leverage the facility for the land cable portion of certain HVDC projects.

“We remain fully committed to the North American market and to the high-voltage cables business. The decision to divest this factory is in line with our Next Level strategy and focus on optimizing our operations, exploring new business models and building partnerships,” said Claudio Facchin, president of ABB’s Power Systems division. “We are pleased that the Huntersville facility will be in the hands of Southwire, a well-established, innovation-focused company and look forward to building on our new business relationship.”
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January 17 2019 2:20 pm V11.11.0-2