General Cable Corporation

General Cable Corporation

March 14, 2005 16:29 ET

General Cable Corporation Acquires Specialty Electronics and Datacom Assets from Draka Comteq


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: GENERAL CABLE CORPORATION

NYSE SYMBOL: BGC

MARCH 14, 2005 - 16:29 ET

General Cable Corporation Acquires Specialty
Electronics and Datacom Assets from Draka Comteq

HIGHLAND HEIGHTS, Ky.--(CCNMatthews - Mar 14, 2005) -

General Cable Corporation (NYSE:BGC) announced today the closing of its
acquisition of certain assets of Draka Comteq's business in North
America, which was previously announced on November 30, 2004. Comteq,
based in Franklin, Massachusetts, has strong technical and manufacturing
capabilities in electronic cables, as well as high end data products.
The assets acquired also include the well known brand "Helix/Hi-Temp."
General Cable intends to continue operations at the Franklin location.

"We are excited about the product and customer opportunities that will
be available to us with the expanded product lines of our combined
businesses. The Franklin facility will greatly expand our product
offering of specialty electronics and data communications cables. It
will also allow us to add new customers for data cables and provide us
needed capacity for growth opportunities in the communications market,"
said Greg Lampert, General Cable's Vice President and General Manager,
Carol Brand Products. "We are also excited about the 'Helix/Hi-Temp'
brand name, which has a rich history that dates back to the mid-1950s.
We look forward to working closely with our new associates at the
Franklin facility."

General Cable (NYSE:BGC), headquartered in Highland Heights, Kentucky,
is a leader in the development, design, manufacture, marketing and
distribution of copper, aluminum and fiber optic wire and cable products
for the energy, industrial, specialty and communications markets. Visit
our website at www.GeneralCable.com.

Certain statements in this press release, including without limitation,
statements regarding future financial results and performance, plans and
objectives, capital expenditures and the Company's or management's
beliefs, expectations or opinions, are forward-looking statements.
Actual results may differ materially from those statements as a result
of factors, risks and uncertainties over which the Company has no
control. Such factors include economic and political consequences
resulting from the September 2001 terrorist attack and the war with
Iraq, domestic and local country price competition, particularly in
certain segments of the power cable market and other competitive
pressures; general economic conditions, particularly in construction;
changes in customer or distributor purchasing patterns in our business
segments; the Company's ability to increase manufacturing capacity and
productivity; the financial impact of any future plant closures; the
Company's ability to successfully complete and integrate acquisitions
and divestitures; the Company's ability to negotiate extensions of labor
agreements on acceptable terms; the Company's ability to service debt
requirements and maintain adequate domestic and international credit
facilities and credit lines; the Company's ability to pay dividends on
its preferred stock; the impact of unexpected future judgments or
settlements of claims and litigation; the Company's ability to achieve
target returns on investments in its defined benefit plans; the
Company's ability to avoid limitations on utilization of net losses for
income tax purposes; the cost of raw materials, including copper and
aluminum; the Company's ability to increase its selling prices during
periods of increasing raw material costs; the impact of foreign currency
fluctuations; the impact of technological changes; and other factors
which are discussed in the Company's Report on Form 10-K filed with the
Securities and Exchange Commission on March 12, 2004, as well as
periodic reports filed with the Commission.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    General Cable Corporation
    Investor Relations
    Paul M. Montgomery, (859) 572-8684