France: Nexans Confirms Acquisition of AmerCable

Nexans, a worldwide leading expert in the cable industry, confirms that it 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 to 31 December 2011, AmerCable sales revenue totaled around US$270m with an EBITDA(1) margin on sales at constant metal prices (2) 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.

[mappress]
Offshore WIND  Staff, March 02, 2012; Image:  AmerCable