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International Wire Sales Down Slightly in 2Q

International Wire Group, Inc., Camden, NY, reported sales for the second quarter ended June 30, 2008, were $199.9 million, compared with to sales of $200 million for the same period 2007. Profit was $5.6 million, an increase of 30% over the prior year due primarily to higher operating income.
 
Sales for the first six months of 2008 were $406.4 million, an increase of 8.6% over the first half of 2007. Profit was $12.8 million, an increase of 54.6%.
 
Our operating results were enhanced by the favorable impact of our ongoing cost reduction initiatives, including our plant in Sherrill, NY, which became operational in late 2007, and the acquisition of Hamilton Products at the beginning of 2008,"said Rodney D. Kent, CEO. "We now look forward to the integration of the ...

International Wire Group, Inc., Camden, NY, reported sales for the second quarter ended June 30, 2008, were $199.9 million, compared with to sales of $200 million for the same period 2007. Profit was $5.6 million, an increase of 30% over the prior year due primarily to higher operating income.
 
Sales for the first six months of 2008 were $406.4 million, an increase of 8.6% over the first half of 2007. Profit was $12.8 million, an increase of 54.6%.
 
Our operating results were enhanced by the favorable impact of our ongoing cost reduction initiatives, including our plant in Sherrill, NY, which became operational in late 2007, and the acquisition of Hamilton Products at the beginning of 2008,”said Rodney D. Kent, CEO. “We now look forward to the integration of the Global Wire acquisition, which expands our customer base and product offering and which we expect to generate significant synergies.”
 
International Wire Group, Inc. is a manufacturer and marketer of wire products, including bare, silver-plated, nickel-plated and tin-plated copper wire, for other wire suppliers, distributors and original equipment manufacturers.

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