Superior Essex To Buy Nexans’ Magnet Wire Operations

Superior Essex has entered into agreements to buy Nexans’ remaining magnet wire operations in China and Canada. The acquisitions include Nexans’ 80 percent stake in Tianjin Magnet Wire and Cables Co. and the operating assets of Nexans Simcoe Canada magnet wire business. The combined purchase price will be about $25-30 million in cash plus the assumption of about $10 million in debt.