by Tom Stundza -- Purchasing, 7/30/2008 1:25:00 PM
South Korean cable maker LS Cable has received regulatory approval from the U.S., Spain and Germany to acquire copper wiring firm Superior Essex and create the third-largest global maker of magnet, communication, industrial and building wire with pro forma consolidated annual revenues of almost $13 billion. Chinese regulators also are expected to approve the buyout.
Superior Essex will become a subsidiary of LS Cable but will operate under its own name with existing management and employees. The firm has headquarters in Atlanta and manufacturing and distribution facilities in the U.S., Canada, China, France, Germany, Italy, Mexico, Portugal and the United Kingdom.
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