The 2020 Mid-Year Economic Update_long

ABB to Sell Cable Factory to Southwire

Divestment of Huntersville, NC, facility in line with company's "Next Level" strategy.

Switzerland-based power and automation company ABB has agreed to divest its Huntersville, NC, cable factory to Southwire Company LLC, a Carrollton, GA-based wire and cable manufacturer. Terms of the sale were not disclosed.

The company said the sale of the Huntersville facility is in line with its "Next Level" strategy to optimize its business portfolio, and that "ABB and Southwire will also pursue a business partnership to leverage the facility for the land cable portion of certain HVDC projects."

“We remain fully committed to the North American market and to the high-voltage cables business,” said Claudio Facchin, president of ABB’s Power Systems division. "The decision to divest this factory is in line with our Next Level strategy and focus on optimizing our operations, exploring new business models and building partnerships."

About the Author
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

By subscribing, you are agreeing to MDM’s Privacy Policy.

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

0

articles left

This is your last free article

Subscribe to MDM Premium today and get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.