Southwire Signs Agreement To Acquire Tappan
Carrollton, GA – July 22, 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.
Tappan supplies the electronics, signal/control, industrial, HVAC and OEM 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.
To visit Tappan's website, click http://www.tappanwire.com/index.php.
Southwire Is Committed to OEMs - Stuart Thorn
As President and CEO of Southwire, I am responsible, among other things, for the strategies of our company. One of our most critical strategies is the pursuit of what we like call "Resiliency." As individual cycles coma and go, we can't afford to be too dependent on the roller coaster of any one market. Instead, if we are truly going to e resilient long term, we must be diverse in terms our products, our geographies, and our people.
With that vision in mind, we have in fact been pushing out the boundaries of our core businesses and broadening our company. Today, we hve dynamic positions in Residential Building Wire, Commercial Building Wire, Industrial Cable. Power Cord, Utility Cable, Rod Mill Technology, and OEM markets. We have growing positions in Canada and Mexico, as well as in the U.S. We have accomplished this diversity through bothe organic investments and selected key acquisitions.
Looking forward, we will continue building on this resilient foundation. We are especially excited about our prospects in the OEM space. Southwire's greatest strenth lies in our ability to partner closely with key customers. In every corner of our business, we are recognized as leaders when it comes to this capability, and it has been the common denominator of our success.
Southwire is committed to OEM customers for both wire and rod. The OEM market has become a key part of our core business, and it is an area in which we will continue to invest in and grow. By leveraging our broad capabilities in the context of true customer partnership. Southwire will dynamically cultivate its OEM busines and, as a result, become an even more diversely resilient and successful company.
In short, we at Southwire have a lot to gain from our OEM strategy. However, we know we can only achieve our goals if we do a great job of helping you achieve yours. You are strategic to us, but we need to be equally strategic to you. So, please tell us how we can best serve your needs in a spirit of partnership that will enable us both to become more successful. Rest assured, we'll be listening - and we'll be investing!
Southwire Completes Purchase of AIW Assets
Carrollton, GA – February 24, 2010 – Southwire Company today announced that it has completed the asset purchase of Rhode Island based American Insulated Wire Corporation (AIW), a subsidiary of Leviton.
Southwire has acquired certain assets of AIW including the AIW brands, and two manufacturing facilities, Douglas, GA, and Coffeyville, KS, both of which produce a variety of building wire products for commercial, industrial, and OEM markets.
“Acquiring the AIW assets will allow Southwire to become stronger in construction, industrial, OEM and retail market segments and will enhance our ability to serve customers in the fast-growing renewable energy market,” said Stuart Thorn, Southwire CEO. “AIW’s product diversity and strong manufacturing expertise make it a perfect fit for Southwire’s commitment to industry leading service for our customers by offering the broadest range of wire and cable products available from one manufacturer.
“Demand for flexible cable products, particularly in alternative energy markets continues to grow,” added Thorn. “By integrating AIW’s product line and manufacturing capacity within Southwire, we will be better positioned to meet that growing market demand.”
According to Jack Carlson, President, Southwire Electrical Division, “Southwire can better serve the needs of its customers and channel partners by providing a single source for all wire and cable needs. Now more than ever, our customers need the ability to lower transaction costs, reduce inventories, and offer special services that improve efficiencies and increase safety of their customers’ electrical installations. Southwire’s broad and innovative product offering, industry leading fill-rates and lead times along with our nine distribution centers meet these needs allowing our customers to be more successful.”
“We are particularly excited about the acquisition because it brings a variety of additional products to our cable mix,” said Carlson. “The addition of products such as telephone power, mining and DLO cables and the enhancement to our portable rubber cord offering, solidifies Southwire’s position as a leading manufacturer of wire and cable products for the commercial and industrial markets.”
The acquisition also builds upon Southwire’s strategy to be the leading supplier with the broadest product offering for OEM customers. “OEM customers look to us to provide specific products and services to make their manufacturing processes easier”, said Norman Adkins, president of Southwire’s OEM Division. “Acquiring AIW’s assets allows us to better meet these needs with an expanded product offering including cables used by manufacturers of renewable energy, entertainment, welding, and a wide range of other equipment.”.
“Over the past 50 years, Southwire has established itself as a market force in the wire and cable industry by providing innovative, high quality products and services to our customers,” summed up Thorn. “This acquisition further solidifies Southwire as the best choice for customers seeking a complete line of quality products from the industry’s lowest-cost provider.”
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.
Southwire Named Among Best Places to Work in Atlanta
Atlanta Business Chronicle Ranks Southwire Seventh Among City's Large Companies
(Carrollton, Ga.– September 25, 2009) - An unyielding commitment to its employees and communities makes Southwire Company one of Atlanta’s best places to work, according to the Atlanta Business Chronicle. Carrollton-based Southwire, which finished seventh among large companies, was among metro area businesses honored Friday at the Best Places to Work breakfast.
“We’re honored to be recognized as one of the best places to work in Atlanta,” said Gary Leftwich, a spokesman for Southwire, which has been included on the list before. “While it’s always important, it is especially critical in these tough economic times that employees feel valued – that they are a creative part of the process and not just a vehicle through which production gets accomplished.”
To find Atlanta’s best places to work, the Atlanta Business Chronicle asked readers to nominate workplaces in metro Atlanta. Nominated companies and organizations filled out online surveys containing about 40 questions about their workplaces, co-workers and managers.
After the surveys closed, Quantum Market Research processed the data and provided the scores of all the participating companies and organizations. The Atlanta Business Chronicle then selected 60 finalists from more than 500 nominated companies, including the top 10 in the large category (companies or organizations with 501 employees or more in the metro area), the top 25 in the medium category (those with 101 to 500 employees) and the top 25 in the small category (10 to 100 employees).
In addition to getting high marks on the surveys, Southwire also was recognized for programs such as the POWER Fund, an employee funded program providing financial support to workers who encounter hardship because of catastrophic circumstances beyond their control.
Southwire employees have a direct line to top management through the Just Ask program. Just Ask allows anyone to ask a question, voice a concern or make a suggestion through e-mail, paper forms or a special telephone hotline.
"Each question is reviewed and answered by the company’s senior management with the goal of finding a final solution,” Leftwich said. “The goal is to involve everyone in finding creative solutions so we can draw upon the widest possible pool of ideas and talents.”
The Atlanta Business Chronicle also commended Southwire for its close partnerships with its neighbors in Carroll County. Specifically, the Chronicle highlighted the company’s 12 for Life partnership with the Carroll County School, which seeks to keep high school students from dropping out by providing them with jobs and specialized instruction. Also recognized was Southwire’s Project GIFT (Giving Inspiration For Tomorrow), which matches employees with volunteer opportunities such as an annual school supply giveaway, a Toys for Tots drive, disaster relief supply collections and others.
“Being a great place to work is about ensuring employees find value on and off the job,” Leftwich said. “We’re proud our employees feel such a high sense of job satisfaction. They’re the ones who make it all possible and who ultimately deserve all the credit for our success.”