Southwire Expands Indiana-Based Operations, Creates New Jobs
Southwire announced plans today to expand its operations in Indiana, creating up to 105 new jobs by 2016.- November 11, 2014 -The Georgia-based company, which purchased Illinois-based Coleman Cable in February, will invest $2.1 million to purchase and equip a new 48,000 square-foot facility in Bremen. The facility, which will be fully staffed by the end of 2015, will allow the company to relocate manufacturing capacity for its original equipment manufacturer and industrial divisions to Bremen.
"Indiana's focus on job creation, cutting red tape and improving our infrastructure continues to pay dividends, but our state's greatest strength is still its deep and talented workforce," said Governor Mike Pence. "Companies like Southwire recognize the tremendous potential for growth here in Indiana, where our skilled Hoosiers, a stable business climate and low taxes prove once again Indiana is a state that works."
Southwire, which currently employs 310 full-time Indiana associates, is now hiring for additional production, maintenance and distribution positions. Interested applicants may apply by visiting www.applytosouthwire.com.
"Southwire's acquisition of Coleman Cable, including the Bremen operations, provided a key step in our strategy to grow into new, diverse markets," said Stu Thorn, president and chief executive officer of Southwire. "We now are working together to position ourselves at the forefront of the wire and cable industry, while continuing to provide world-class service to our customers. With its central local and the availability of resources and skilled labor, Bremen provides a perfect focal point for that growth."
Founded in 1950, Southwire is North America's largest and the world's third largest producer of wire and cable used in the transmission and distribution of electricity. Its customers include the nation's top utilities, electrical distributors, retailers and do-it-yourselfers, as well as manufacturers that use the company's wire in their own products. In 2013, Southwire was named supplier of the year by Southern California Edison and Pacific Gas and Electric.
The Indiana Economic Development Corporation offered Coleman Cable, LLC up to $750,000 in conditional tax credits and up to $200,000 in training grants based on the company's job creation plans. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. Marshall County approved additional incentives at the request of the Economic Development Corporation of Marshall County.
"We're excited that the Southwire Company has decided to expand their presence in Bremen, again," said Jim Leeper, president of the Bremen Town Council. "Southwire is a valued employer in the community and I'm glad that the town will partner with the state of Indiana to support Southwire's commitment to grow the Bremen operations and create more good jobs for area residents."
Growing manufacturing companies like Southwire continue to find themselves at home in Indiana. Earlier this year, Universal Bearings, a manufacturer of loose needles and needle bearings, announced plans to build a new 100,000 square-foot building on its 13-acre campus in Bremen, creating up to 78 new jobs in the coming years.
Southwire Successfully Completes Tender Offer for Coleman Cable
Posted on
Southwire Company and Coleman Cable, Inc. today announced that Cubs Acquisition Corporation, a wholly owned subsidiary of Southwire, successfully completed its previously announced tender offer for all outstanding shares of common stock of Coleman Cable, Inc. for $26.25 per share in cash.
The Offer expired at 12:00 midnight, New York City time, on February 10, 2014 (one minute after 11:59 P.M., New York City time, on February 10, 2014). As of the expiration of the Offer, a total of 17,006,114 shares were validly tendered and not properly withdrawn in the Offer (not including 896,077 shares tendered pursuant to notices of guaranteed delivery which had not been delivered to the depositary prior to the expiration of the Offer), representing approximately 89.81% of Coleman's outstanding shares of common stock on a fully diluted basis. In accordance with the terms of the Offer, all shares that were validly tendered and not properly withdrawn have been accepted for payment and Southwire expects to promptly pay for all such shares.
Following consummation of the Offer, Southwire expects to complete the acquisition of Coleman later today through a merger of Purchaser with and into Coleman. Upon completion of the merger, Coleman will become a wholly owned subsidiary of Southwire and all remaining eligible Coleman shares will be converted into the right to receive $26.25 per share in cash, without interest and less any applicable withholding taxes, the same price that was paid in the tender offer.
Stuart Thorn, CEO and President of Southwire, said, "Our team is looking forward to working together with Coleman to solidify our position at the forefront of the wire and cable industry and continue providing world-class service to our customers. We are very excited to welcome our Coleman colleagues to the Southwire family and are motivated by the possibilities in front of us."
Following completion of the merger, Coleman shares will cease to be traded on the NASDAQ Global Market. Coleman will make the necessary filings with the Securities and Exchange Commission to end its reporting obligations under the Securities Exchange Act of 1934, as amended.
About Southwire Company
A leader in technology and innovation, Southwire Company is one of North America's largest wire and cable producers. Southwire and its subsidiaries manufacture building wire and cable, metal-clad (MC) cable, cord products (including Tappan™ sound, security, and communication cables through Tappan Wire & Cable Inc.), utility cable products, industrial power cable, OEM wire products, SCR® copper and aluminum rod, and continuous casting technology. Southwire also supplies MAXIS® Contractor Equipment and Southwire™ Electrician's Tools to the commercial, industrial, retail, electrical wholesale outlet and utility construction markets. To learn more about Southwire's products, community involvement, and its vision for a sustainable Southwire, please visit Southwire on the web at www.southwire.com.
About Coleman Cable, Inc.
Coleman is a leading manufacturer and innovator of electrical and electronic wire and cable products for residential and commercial construction, industrial, OEM, and consumer applications, with operations in the United States, Honduras, and Canada. Coleman's broad product offering enables it to provide its customers a single source for many of their wire and cable requirements. It manufactures the majority of its products in nine domestic production facilities and sells products to more than 8,000 active customers in a wide variety of end markets. It operates three segments: Distribution, OEM, and Engineered Solutions. For more information, visit www.colemancable.com.
Leviton Acquires Home Automation, Inc.
Melville, New York, August 2, 2012 - Leviton today announced the acquisition of Home Automation, Inc. (HAI), a leader in home automation controls for residential and light commercial applications. HAI enhances Leviton's current home automation offerings by providing homeowners with solutions that combine security, energy management and entertainment controls, in user-friendly applications.
Integrating HAI products with Leviton's solutions provides homeowners with a smart choice for automation and remote access capabilities. HAI has a wide-ranging product offering, from systems that allow homeowners to control their automated video surveillance system and audio devices over the Internet to programmable thermostats and light switches accessible directly from a smart phone.
"Leviton's acquisition of HAI represents a significant expansion of our offerings in the residential market, and furthers Leviton's commitment to providing customers with the latest technologies as affordable, easy-to-use solutions," said Daryoush Larizadeh, Chief Operating Officer of Leviton. "Leviton and HAI are two established brands coming together to offer a complete whole home automation solution that customers can trust."
HAI will operate as a new, standalone business unit, branded HAI by Leviton, and maintain operations in New Orleans. The new business unit will be managed by Jay McLellan, current CEO and president of HAI, who will report directly to Daryoush Larizadeh. HAI product lines will soon be available through Leviton's U.S. and international channel partners and distributors. Leviton also plans to provide its builder and contractor network with the necessary training for installing HAI systems.
"We are proud to be part of the Leviton team, joining a company with a rich history and well-established brand," added Mr. McLellan. "Through the combined technologies from Leviton and HAI, we anticipate continued growth and innovation in the home automation space, providing homeowners with additional advancements for years to come."
The acquisition of HAI continues Leviton's commitment to strategic growth and innovation. Leviton has evolved into a global provider of electrical wiring devices, data connectivity solutions and lighting and energy management systems for a variety of end-use markets.
About Leviton
Leviton is the smart choice, providing the most comprehensive range of solutions to meet the needs of today's residential, commercial and industrial buildings. Leveraging more than a century of experience, Leviton helps customers create sustainable, intelligent environments through its electrical wiring devices, network and data center connectivity solutions, and lighting energy management systems. From switches and receptacles, to daylight harvesting controls, networking systems, and equipment for charging electric vehicles, Leviton solutions help customers achieve savings in energy, time and cost, all while enhancing safety. For more information, visit www.leviton.com, www.facebook.com/leviton, www.twitter.com/leviton or www.youtube.com/levitonmfg.
About HAI
Home Automation, Inc. (HAI) is a privately held manufacturer of integrated automation and security products for residential and commercial use based in New Orleans, LA. Incorporated in 1985, HAI has developed a full line of award-winning automation products, including home control systems, programmable communicating thermostats, smart light switches, Whole Home Audio systems, video surveillance equipment, access control products, Touchscreen interfaces, and software that allows access and control of an automation system over the Internet. All products are sold through HAI's worldwide network of Distribution Partners and installed by trained dealers in over 80 countries. For more information, visit www.homeauto.com., www.twitter.com/homeauto or www.facebook.com/homeautomationinc.
OEMs Spend Less Time in the Harness with NEW MCAP® Type MC Cable
Innovative new MC cable with built-in armor ground speeds both Type MC and Type AC cable projects.
A new form of Type MC cable - MCAP cable from Southwire - promises to reduce OEM wiring harness production time for both MC and AC cable applications.
UL-listed and NEC-compliant, MCAP cable cuts harness makeup time with an innovative built-in armor ground. The armor ground system eliminates the need to make up grounds in every outlet box, luminaire, and panel. That reduces assembly time at every termination. "The 'AP' in MCAP stands for All-Purpose, because MCAP cable can be used in both MC and AC applications," says Richard Temblador, Director Product Development. There is also a version that meets grounding requirements for health care facilities called HCF MCAP cable.
Conductors are copper, bare ground is aluminum
Copper-conductor MCAP cable puts a full-sized, bare aluminum ground wire in constant contact with the aluminum armor. (See illustration.) That lets the armor serve as an equipment grounding conductor with full UL and NEC compliance. No separate equipment ground connections are needed. MCAP cable may be used wherever either AC or MC cable is permitted, and it is priced at the same competitive levels as AC and standard MC.
Compared to AC cable, MCAP cable requires no anti-short bushings and unlike AC cable, MCAP cable has no limits on the number of conductors in a cable. HCF MCAP cable is the first interlocked armor MC cable that meets NEC requirements for redundant grounding in health care facilities, and HCF MCAP cable has a 350 percent better armor ground path than HCF AC.
Initially available in common sizes
MCAP and HC MCAP cables are initially available in sizes from 14 to 10 AWG, with 120V and 277V conductor colors. Other conductor combination will be coming. Compatible fittings and rotary cutters are already available. You can find a complete listing, as well as comprehensive MCAP and HC MCAP cable installation instructions, at www.southwire.com.
MCAP TM Cable can be used in either MC or AC cable applications
Sustainability
Starting a year ago, Southwire launched a sustainability initiative, complete with guidelines, in an effort to measure our advancements in environmental responsibility. Last year, we released the first report detailing our environmental performance, our safety record and our community investment. At the time, we made commitments in several areas, including the conversion of our corporate fleet to hybrid vehicles, the implementation of new safety initiatives and the development of new, energy-efficient cables. I am pleased to say we have made significant progress in these and other areas.
Perhaps one of the most important initiatives is our drive to reach a level of zero waste disposals by 2017. In 2006, Southwire's facilities and offices at its corporate headquarters in Carrollton, Georgia sent 14,000 tons of solid waste to landfills. While we do not have complete measurements for all of our facilities across the country, we know that number is much higher. So our challenge is two-fold. First, we must determine an accurate amount of waste we generate and find ways of cutting that number drastically. Then, not content with just removing a percentage of our waste stream, we plan to eliminate it altogether through creative ways of reducing, reusing and recycling our waste. From company wide recycling to composting to make the impact even greater, we are encouraging our employees and neighbors to follow some of the same practices in their homes.
Not all of our objectives focus on Southwire's operations. We also want to help build stronger communities. Following the success of 12 for Life - our partnership with Carroll County Schools that encourages high school students on the verge of dropping out to rethink that decision - we are developing new efforts that assist often neglected populations. Over the next year we plan to hire veterans of our armed forces who have been injured in the current war on terror. And, Southwire is searching for a partner to help establish a program that will provide job opportunites for the mentally and physically challenged. Knowing that we must also reach out to future generations, Southwire is working with Boys Club/Girls Clubs to establish a chapter of the organization in Carrollton.
These are just a few of the major goals Southwire will work toward in the coming years There are others - including expanding the diversity among our workforce, especially among our corporate leadership; achieving a world-class safety record; and reducing our carbon footprint by 10 percent in 2012. We look forward to your particpation in these efforts and will keep you posted on our initiatives moving forward.
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 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."
