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Stock Market & Financial Investment News

News Breaks
February 7, 2013
16:39 EDTBGCGeneral Cable sees FY13 operating income in the range of $300M - $340M
For 2013, the company is expecting to generate operating income in the range of $300 - $340 million as we focus on the integration of recent acquisitions and continuous improvement at our manufacturing facilities around the world. Unit volume for 2013 is expected to be in the range of 1.4 to 1.5 billion metal pounds, including approximately 350 to 400 million metal pounds from acquisitions completed in 2012. For 2013, we expect our recent acquisitions along with our base business in the Americas, Africa, and Asia Pacific to continue to show improvement. Our Europe and Mediterranean segment is expected to contribute in the range of 3-6% of overall operating income in 2013 driven by our businesses throughout the region as our Iberian and submarine turnkey project businesses are expected to operate around breakeven. While the Spanish end market is expected to remain difficult in 2013, our actions taken in Spain over the last four years to reduce our ongoing cost base and deliver growth in our exports from Spain should help offset continuing weakness in the domestic market, said Gregory B. Kenny, President and Chief Executive Officer of General Cable.
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August 31, 2015
16:24 EDTBGCGeneral Cable completes sale of Thailand operations
General Cable announced it has completed the sale of its Thailand operations to MM Logistics Co. Ltd. for cash consideration of approximately $88M. The closing of the sale of the Thailand operations is the first of a two-step closing process. The company expects the second closing to complete the sale of the remaining Asia Pacific operations including China, New Zealand and Australia to occur at the end of September, subject to customary closing conditions. Upon completion, the company expects to generate approximately $205M of cash proceeds from the sale of Thailand, China, New Zealand and Australia. Proceeds will be used to reduce outstanding borrowings and pay related fees and expenses.
16:09 EDTBGCLongbow to hold a conference
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