General Cable Corp. (NYSE: BGC), Highland Heights, KY, has agreed to sell its North American automotive ignition wire business to Standard Motor Products Inc. (NYSE: SMP) for $71 million.
“While the automotive ignition wire business has been a strong performing business for us over the years, we determined through our strategic review that it is not aligned with our strategic and financial criteria going forward," said Mike McDonnell, president & CEO.
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