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Nexans Signs a Framework Agreement to Acquire the Cable Business of Madeco, the Cable Market Leader in South America.

Publication: Business Wire
Publication Date: 15-NOV-07 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
This acquisition, the largest yet made by Nexans, will result in a leading position for the group in energy cables in a high growth area

PARIS -- Nexans, the worldwide leader in the cable industry, announced the signature of a Framework Agreement to acquire the cable business of Madeco, the cable industry leader in South America.

At current non-ferrous metal prices, the 2006 sales of the Madeco Group cable business totaled 672 million USD (457 million euros), in three major segments: cables for infrastructures, industry and building. The organic volume growth for these segments was 12% per year during the 2004-2006 period. For the 2007 half-year, Madeco's Wire and Cable sales breakdown by country was approximately 43% in Brazil, the largest market...

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