Platinum Equity buys cable subsidiary
By Tom Stundza -- Purchasing, 10/15/2009 2:00:00 AM
Platinum Equity has purchased the Alcan Cable division of Rio Tinto Group. Alcan Cable, an Atlanta-based division of the Alcan Engineered Products business, is a high quality manufacturer of aluminum cable products.
Alcan Cable sells products to the utility transmission and distribution markets, and to residential and non-residential contractors, throughout North America. The business has seven production sites in the U.S., Canada and most recently China.
Platinum Equity will assume management control of Alcan Cable and hold a 56% ownership stake in the company. Rio Tinto will retain a 44% minority interest and will remain a key supplier of aluminum rod and molten aluminum to the business.
Talkback
Sponsored Links
Now Playing: 
