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Houston Wire & Cable to Sell Southern Wire Division

After selling wholesale distributor of wire rope and rigging products for $20 million, HWCC expects to use the net sales proceeds to reduce debt.
Houston Wire & Cable sells Southern Wire division

Houston Wire & Cable Co. (Nasdaq: HWCC), Houston, Texas, announced that it has agreed to sell its Southern Wire business, an Olive Branch, Mississippi-based wholesale distributor of wire rope and rigging products, for $20 million, subject to a working capital adjustment. HWCC expects to use the net sales proceeds to reduce debt.

“Southern Wire is a company with outstanding leadership, team members and a proven track record of providing superior products, customer service and operational excellence for 48 years,” said James L. Pokluda III, HWCC president and CEO. “We are very thankful for their multiple contributions to HWCC and wish them much success in the future.”

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