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Southwire announces acquisition of Novinium

 

Southwire owner, Lee Richards, piloted his jet to the Hancock County Airport Friday to meet with staff at the Southwire Hawesville plant.

“We are very excited about the acquisition of Novinium at Southwire. Novinium’s cable rejuvenation system which extends the life of underground cables is an amazing value proposition for our existing and prospective customers whom we aim to serve,” said Thomas Courtney, vice president of Services. “This acquisition reaffirms Southwire’s leadership in the cable industry and will be a foundational element for the further development of field services within the newly formed Southwire Service & Solutions business.”

Closure of Waukegan Plant

As the company continues to align itself to best serve its markets and customers, Southwire announced that it will close operations at its Waukegan, Ill. manufacturing facility, effective December 16.

The Waukegan Plant was acquired by Southwire in 2014 and has provided support for the company’s success in flexible cord, tray cable and cord set markets. The facility employs approximately 135 people.

“As we move ahead with our long-term strategy, we must ensure we are properly aligned to make the best use of our facilities and best meet the needs of our customers,” said Rebecca Cranford, senior vice president of manufacturing. “The decision to close the plant is not a reflection on the people, the quality or the performance of the facility, nor is it one we take lightly.”

Manufacturing of the cord sets and made-to-order products currently made in Waukegan will be moved to other Southwire plants. Impacted employees will have the opportunity to bid on open positions within the company. Those who do not wish to transfer to another Southwire facility will be offered severance benefits and outplacement assistance.

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