Mexican manufacturer Xignux acquires 290,000 sq ft plant in Illinois; will add 100 jobs
Warning: foreach() argument must be of type array|object, bool given in /home/mexiconow/public_html/sites/mexiconow/wp-content/themes/mexiconowwpnew/single.php on line 253
Mexican manufacturer Xignux revealed it has completed the acquisition of American Bare Conductor, an electric wire producer whose 290,000-square-foot production facility is located in LaSalle, Illinois.
The plant, now part of Xignux’ Viakable CME Wire & Cable division (VKMUSA), will be adding 100 employees to the current workforce of 41 by next year, said the company in a statement.
Xignux is an industrial consortium based in Monterrey, Nuevo Leon, which employs more than 20,000 people worldwide.
“We are happy to be in LaSalle and grow our business in the Illinois Valley,” said Adolfo Riveron, chief executive officer of Viakable LaSalle. The financial terms of the acquisition were not disclosed.
American Bare Conductor, established in 2006, will now operate under the name Viakable Manufacturing (VKMUSA) to serve the U.S. market through its parent company CME, which is a top electrical wire and cable suppliers in the industry.
Xignux is comprised of four divisions: cables, transformers, infrastructure and foods. They operate over 25 production facilities and a diverse group of distribution centers in Mexico, the U.S., India, Brazil and Colombia. Xignux currently exports over half of its sales to more than 40 countries.
MexicoNow
Related
- Mexican steel producer Grupo Simec acquires two plants from Arcelor Mittal in Brazil
- Mexichem acquires a Pennsylvania-based PVC manufacturer for US$ 39 million
- Sigma Alimentos acquires remaining shares of Romanian firm Caroli Foods Group
- Grupo Bimbo acquires US-based East Balt Bakeries for US$ 650 million
- Bachoco acquires Alabama-based Albertville Quality Foods for US$ 144 million
