Belden selling some assets to Superior Essex; may close plant
Belden Inc. has agreed to sell parts of its communication cable business to Superior Essex Inc. for as much as $95 million, and may close its Phoenix-based facility. Superior Essex will buy selected inventories, machinery and equipment, and will assume certain customer contracts related to Belden's North American telecommunication wire and cable business.
Belden Inc. has agreed to sell parts of its communication cable business to Superior Essex Inc. for as much as $95 million, and may close its Phoenix-based facility. Superior Essex will buy selected inventories, machinery and equipment, and will assume certain customer contracts related to Belden’s North American telecommunication wire and cable business.
As a result of the sale, Belden is contemplating closing its manufacturing operation in Phoenix, AZ. This possible move is subject to discussions with the plant’s employee bargaining unit.
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