Southwire Signs Agreement to Acquire Tappan

Monday, Jul 26, 2010

Southwire Company today announced that it has purchased New York -- based Tappan Wire & Cable Inc. (“Tappan”). Tappan has headquarters and a manufacturing facility in Blauvelt, New York.

“This acquisition further strengthens our ability to provide world-class service to our customers”

Tappan supplies the electronics, signal/control and industrial markets. Products include security and access control cable, coaxial video cable, fire alarm cable, plenum-rated cables, category cables, home automation/combination cables and commercial sound/intercom cable solutions. Tappan also makes a wide variety of specialty and custom electronics cables.

The Tappan acquisition is a natural progression for Southwire. The addition of telecommunications and electronic cables solidifies Southwire’s position as an industry-leading manufacturer of portable cord products, while also adding to Southwire’s ability to offer differentiated, custom products that provide value-added benefits to end users.

“This acquisition further strengthens our ability to provide world-class service to our customers,” said Stuart Thorn, President and CEO of Southwire Company. “Southwire can now leverage Tappan’s ability to respond to requests for custom products, pricing and availability in the cord, telecom and electronics product category.”

Carrollton, Georgia-based Southwire Company entered the cord market in 1995 with TPE cord products and has steadily evolved the product line by improving manufacturing capabilities and, most recently, the acquisition of American Insulated Wire (AIW). The Tappan acquisition gives Southwire’s customers the ability to purchase a complete line of electrical products from one manufacturer.

“Tappan’s ability to manufacture a wide variety of products and custom constructions, combined with Southwire’s distribution network and its focus on innovation, provides strong growth opportunities for this line of products moving forward. Current Tappan customers can expect the same level of service and product availability they are accustomed to receiving,” said Darren Krych, President of Tappan Wire and Cable.

“By integrating Tappan’s products and manufacturing capabilities within Southwire, we will be better positioned to meet the needs of our channel partners and customers, ” said Thorn.

Over the past 60 years, Southwire has established itself as a market leader in the wire and cable industry by providing innovative, high quality products and services with unsurpassed fill-rates and lead times to customers seeking a complete line of quality products from a single supplier. “More product choices and a nationally-linked distribution network allows our customers to be more profitable by lowering transaction costs and increasing inventory turns,” summed up Thorn.

About Southwire Company

A leader in technology and innovation, Southwire Company is one of North America’s largest wire and cable producers. We manufacture building wire and cable, metal-clad (MC) cable, FlatWire Ready^® products, cord products, utility cable products, industrial power cable, OEM wire products, copper and aluminum rod and continuous casting technology. Southwire is also a leading supplier of wire and cable installation tools by MAXIS™ to the commercial, industrial and utility construction markets. To learn more about our products, our community involvement and our vision for a sustainable Southwire, please visit us on the web at www.southwire.com.

 

Source: Business Wire