2 March, 2012
Nexans, a worldwide leading expert in the cable industry, confirms that it has completed the acquisition of AmerCable on February 29, 2012.
AmerCable is the leading North American producer of Mining and Oil & Gas cables, and is also active in other industrial cables segments including Renewable Energy.
The acquisition represents a major investment for Nexans in the growing Mining, and Oil & Gas cable markets.
For the year 31 December 2011, AmerCable sales revenue is around US$270m with an EBITDA margin on sales at constant metal prices of around 13%. The consideration amounts to US$275m (approximately €211m).
AmerCable’s business complements Nexans’ existing operations in resource cables, providing a new strategic and operational platform in North America.