28/09/2010

General Cable Announces Joint Venture in Oman

The joint venture company in which General Cable will have a majority interest will distribute a wide variety of wire and cable products for the energy, electrical infrastructure and construction markets in Oman and other Gulf Cooperation Council (GCC) countries. General Cable will provide access to a wide range of its products and offer technical support to ICI.

The Company believes the demand for wire and cable products in Oman and the GCC region will continue to grow due to increasing investment in infrastructure and power generation projects as well as a regionally favorable GDP outlook. Countries throughout the region continue to invest in large-scale transport, construction, oil and gas, power generation, transmission and distribution infrastructure.

"We believe the formation of this joint venture is significant in establishing an important local presence in the growing markets in the Gulf region," said Mathias Sandoval, Executive Vice President, President and Chief Executive Officer of General Cable Rest of World. "This new venture will allow us to improve the supply of the full range of General Cable products into the Region," said Roddy Macdonald, Executive Vice President of Global Sales and Business Development, who will lead this business in Oman.

Source: General Cable