Mattr Completes Acquisition of AmerCable, Establishing US Wire and Cable Manufacturing Footprint
Rhea-AI Summary
Mattr Corp. (TSX: MATR) has completed its acquisition of AmerCable Incorporated from Nexans USA Inc. for US$280 million. The acquisition integrates AmerCable into Mattr's Connection Technologies reporting segment, establishing Mattr's presence in US wire and cable manufacturing.
AmerCable specializes in manufacturing highly engineered low and medium voltage electrical power, control, and instrumentation cables for harsh environments. The company serves critical infrastructure sectors, including mineral extraction, renewable power generation, general industrial, and energy markets.
The acquisition expands Mattr's existing Shawflex branded products portfolio, strengthening its position as a premier provider of engineered wire and cable technologies across North America. Mattr operates through two business segments: Composite Technologies and Connection Technologies, focusing on critical infrastructure markets including transportation, communication, water management, energy, and electrification.
Positive
- Strategic acquisition valued at US$280M expanding North American market presence
- Broadens product portfolio with complementary low and medium-voltage cable solutions
- Gains access to critical infrastructure sectors including renewable energy and mineral extraction
- Strengthens position in engineered wire and cable technologies market
Negative
- Significant cash outlay of US$280M for acquisition
News Market Reaction
On the day this news was published, MTTRF declined 0.08%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
TORONTO, Jan. 02, 2025 (GLOBE NEWSWIRE) -- Mattr Corp. (“Mattr” or the “Company”) (TSX: MATR) announced today that it has closed its previously announced acquisition of AmerCable Incorporated (“AmerCable”) [see press release], which now forms part of Mattr’s Connection Technologies reporting segment. Under the terms of the transaction, Mattr has acquired all of the outstanding shares of AmerCable from Nexans USA Inc. (“Nexans”) (EPA:NEX) for a purchase price of US
“The addition of AmerCable to our portfolio positions Mattr as a premier provider of highly engineered wire and cable technologies across the North American marketplace,” said Mike Reeves, Mattr’s President and CEO. “AmerCable’s broad portfolio of low and medium-voltage electrical power, control and instrumentation cable solutions expands and complements Mattr’s existing range of Shawflex branded products. We are excited to welcome the talented employees of AmerCable to the Mattr team.”
About AmerCable
AmerCable is a manufacturer of highly engineered, low and medium voltage electrical power, control and instrumentation cables designed to reliably enable electrification in harsh environments. AmerCable serves a broad customer base within the critical infrastructure sector, including the mineral extraction, renewable power generation, general industrial and energy end markets.
About Mattr
Mattr is a growth-oriented, global materials technology company broadly serving critical infrastructure markets, including transportation, communication, water management, energy and electrification. Its two business segments, Composite Technologies and Connection Technologies, enable responsible renewal and enhancement of critical infrastructure while lowering risk.
For further information, please contact
Meghan MacEachern
VP, External Communications & ESG
Telephone: 437.341.1848
Email: meghan.maceachern@mattr.com
Website: www.mattr.com
Source: Mattr Corp.
FAQ
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