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General Cable plans to invest over $12 million in its Malvern plant this year.
The funds will be used to expand the facility, purchase new equipment and train associates on how to manufacture bare aluminum transmission products more efficiently. Work is already in progress. The Company’s goal with this investment is to reduce production times, improve customer service and provide for future market growth opportunities in the electric utility market. General Cable is North America’s largest manufacturer of energy cables and its Malvern plant is a key contributor to the Company’s success. In 2007, General Cable Malvern manufactured approximately 17 million feet of aluminum overhead distribution cables and 14 million feet of aluminum overhead transmission cables. In addition, Malvern also manufactured over 47 million feet of medium-voltage insulated underground distribution cables. Some of General Cable’s key customers served by the Malvern plant are: Florida Power & Light; Progress Energy; Arizona Public Service Company; and Dominion Power. In August 2005, the U.S. Energy Policy Act was passed to establish mandatory reliability and standards and provide incentives to electric utility companies who invest in improvements to our country’s electric grid. “The investment in Malvern will better position the Company to compete and win new large energy cable projects as U.S. electric utility companies invest to strengthen our country’s electric grid,” said General Cable’s Malvern Plant Manager, Bill Garibay. “We are very happy that General Cable chose Malvern for this large expansion project,” added Jimmy Stevens, Engineering Manager at General Cable’s Malvern plant. “We have a lot of work to accomplish in 2008, but I’m confident we can get it done.” General Cable, a publicly-traded company on the New York Stock Exchange (NYSE: BGC) with more than 12,000 associates on six continents, is a global 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. The Company is one of the largest wire and cable manufacturers in North America and holds an increasing share in both established and emerging markets worldwide. In 2007, General Cable’s annual sales reached $5 billion. The General Cable Malvern plant is located at 1392 Remmel Dam Road and employs 166 associates. |
