Nexans signs agreement to sell Montreal rod mill
Facility will be sold to AmRod Corporation of New Jersey, USA
July 28, 2009 – Nexans confirmed today that it has signed an agreement to sell its Montreal rod mill to AmRod Corp., based in Port Newark, New Jersey, USA. The closing of the transaction is scheduled to take place in the fourth quarter of 2009, subject to a number of conditions including regulatory approval.
The agreement signed with AmRod is consistent with Nexans’ corporate plan to reduce outside sales of copper rod and focus on its core wire and cable businesses. Business at all other Nexans’ North American facilities will not be affected by the sale.
About AmRod Corp.
AmRod is a leading independent copper rod producer in the Northeastern USA. For more than 25 years, AmRod has provided high quality, reliable and competitive continuous cast copper rod to the wire drawing industry in the United States and Canada. See more on AmRod at www.amrod.com.
AmRod copper rod is used to make the complete spectrum of wire and cable products covering all gauges, customer-specific internal and surface quality grades, and various applications (communications, magnet wire, industrial, and building). AmRod also provides comprehensive hedging and risk management services, storage and distribution services as well as transportation and technical support services to its customers.
With energy as the basis of its development, Nexans, the worldwide leader in the cable industry, offers an extensive range of cables and cabling systems. The Group is a global player in the infrastructure, industry, building and Local Area Network markets. Nexans addresses a series of market segments from energy, transport and telecom networks to shipbuilding, oil and gas, nuclear power, automotive, electronics, aeronautics, handling and automation. With an industrial presence in 39 countries and commercial activities worldwide, Nexans employs 23,500 people and had sales in 2008 of 6.8 billion euros. Nexans is listed on NYSE Euronext Paris, compartment A. More information on www.nexans.com