General Cable sees Alcan Cable will contribute about $650M-$700M in revenues The company estimates that the overall Alcan Cable business will contribute approximately $650M-$700M in annual revenues at current aluminum prices, and over a cycle, the operating margin profile is expected to be consistent with the company's existing businesses as manufacturing, logistics, and purchasing synergies are realized. The company expects Alcan Cable North America to contribute meaningfully in Q4 while Alcan Cable China's contribution is expected to be de minimis to Q4 results as step-up purchase accounting adjustments offset the base earnings in the business in China.
General Cable sells interest in Phelps Dodge International Philippines for $67M General Cable Corporation has completed the sale of its interest in Phelps Dodge International Philippines for cash consideration of $67M. The company sold its 60% interest to its joint venture partner, A. Soriano Corporation. Proceeds from the sale will be used to reduce outstanding borrowings on the company’s North American and European asset based revolving credit facility. The company previously announced on October 29 its intent to divest all of its manufacturing operations in Asia Pacific and Africa in order to simplify its geographic portfolio and reduce organization complexity.