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General Cable Corp. (NYSE: BGC), Highland Heights, KY, has sold its Thailand operations to MM Logistics Co. Ltd. for $88 million. The company also plans to sell the remaining Asia Pacific operations including China, New Zealand and Australia.
“Upon completion of the sale of Asia Pacific including Thailand, China, New Zealand and Australia and the prior sales of our interests in the Philippines, Keystone Wire and Cable (China) and Dominion Wire and Cable (Fiji), we expect to generate total cash proceeds of approximately $293 million,” said Mike McDonnell, president and CEO.