General Cable Corp. has acquired a majority portion of the wire and cable assets of Phoenix Power Cables, of Durban, South Africa. The business, which will operate as General Cable Phoenix South Africa (GCPSA), manufactures low- and medium-voltage electrical power cables as well as overhead energy transmission and distribution cables. In the last 12 months, the business reported revenues of approximately $20 million.
General Cable also owns a majority interest in National Cables, the largest cable distributor in South Africa. With the acquisition of GCPSA, the company will have the capability to supply electric utilities in the region with locally produced energy transmission and distribution cables. Consumption of wire and cable in South Africa represents approximately 25 percent of the wire and cable consumed on the entire African continent.
“Investment in power generation, transmission and distribution as well as residential and non-residential construction has grown meaningfully in sub-Saharan Africa over the last several years,” said Mathias Sandoval, executive vice president, president and CEO of General Cable Rest of World. “Robust mining investment as well as infrastructure to support the growing population and increasing wealth in the region is expected to result in greater demand for electrical power cable products to support infrastructure growth well into the future.”
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