Nexans announces today the completion of the sale of AmerCable, a leading manufacturer of electrical power, control and instrumentation cables for harsh environments, to Mattr, for an enterprise value of US$280 million.
The completion of this transaction marks yet another significant milestone in our journey to refocus the Group on electrification and simplify our portfolio. Over the past decade, AmerCable has been transformed into a high-performing business, achieving its full potential under our SHIFT program. We thank our AmerCable colleagues for their dedication and contributions and wish them every success for their exciting next chapter.
CEO, Nexans
The divestiture aligns with Nexans’ long-term strategy and allows the Group to sharpen its focus on its core Electrification business.