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Stock Market & Financial Investment News

News Breaks
January 23, 2013
16:19 EDTBGCGeneral Cable provides status update of restated financial statements
As described in the Forms 8-K dated October 29 and November 13, the company intends to correct the effect of the accounting errors including the potential inventory theft in Brazil on previously issued interim financial statements by restating the three and nine months ended September 30, 2011 that will be presented comparatively in its Quarterly Report on Form 10-Q for the period ended September 28, 2012 and amending previously filed Forms 10-Q for the periods ended June 29, 2012 and March 30, 2012. Contemporaneous with the filing of the above referenced Quarterly Reports, the Company also intends to file an Annual Report on Form 10-K/A to restate previously issued annual financial statements and related financial information contained therein as of December 31, 2011 and 2010 and the three year period then ended.
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December 22, 2014
08:01 EDTBGCGeneral 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.
December 11, 2014
09:50 EDTBGCGeneral Cable management to meet with BB&T
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