International Wire Group, Inc. announced Tuesday that it has retained Jefferies & Company, Inc. as its exclusive financial advisor to assist the Company in evaluating strategic alternatives, including a possible sale of the Company. Mark K. Holdsworth, Chairman of the Company’s Board of Directors, said, “Under CEO Rodney D. Kent’s leadership, International Wire has made great progress by selling the Insulated Wire business, reducing the operating costs of its core Bare Wire business, improving European operations, acquiring additional low-cost capacity, and acquiring the High Performance Conductors, Hamilton Products and Global Wire businesses. The Company’s geographic presence, markets and products have all been successfully expanded and the balance sheet has been strengthened through significant debt reductions. We are now hiring Jefferies to help us analyze the various strategic alternatives in front of us, so that we can choose the path forward that most enhances shareholder value.” The Company emphasizes that it is unable to predict if this review of strategic alternatives will result in any transaction. The Company does not expect to make further public comments with respect to this announcement unless such review of strategic alternatives results in a transaction.
International Wire Group, Inc. is a manufacturer and marketer of wire products, including bare, silver-plated, nickel-plated and tin-plated copper wire, for other wire suppliers, distributors and original equipment manufacturers. Its products include a broad spectrum of copper wire configurations and gauges with a variety of electrical and conductive characteristics and are utilized by a wide variety of customers primarily in the aerospace, appliance, automotive, electronics/data communications, industrial/energy and medical device industries. The Company manufactures and distributes its products at 18 facilities located in the United States, Belgium, France and Italy.
