General Cable Corporation
General Cable Corporation
General Cable Corporation is an international company that has become a leader in the fiber optic wire and cable products industry. The company, which is headquartered in Highland Heights, Kentucky, serves the entire globe with its entire product line. Their products include copper, aluminum, and fiber optic wire and cable products for the energy, industrial, specialty and communications markets. (General Cable Corporation, 2006) General Cable provides products for such diverse clients as electrical utility companies, military and government agencies, and communications customers worldwide. Their operations include: 45 manufacturing facilities in 22 countries, boasts a staff of 12,000 associates, and has sales representatives around the globe. (General Cable Corporation, 2006)
General Cable Corporation first began doing business in 1844 but was not incorporated until 1927. The company was founded by consolidating numerous other companies and plant facilities. The idea was to bring the collective experience of these older companies together to form a leader in the industry. Some of the companies had been in existence since the 1800’s and included Standard Underground Cable which was founded by George Westinghouse. (General Cable Corporation, 2006)
Since the inception of General Cable Corporation, the company has experienced numerous achievements. Their first notable accomplishment was furnishing the wire that Samuel Morse used for his historic communication between Washington and Baltimore in 1944. General Cable Corporation played a major role in the D-Day invasion in 1943. They manufactured the tube used to transport the necessary diesel between England and France – Code name: “Operation Pluto” which stood for Pipe Line Under The Ocean. General Cable has also had the opportunity to take their product out of this world. In 2000, they supplied the on-board fiber optic cable necessary for maintenance on the International Space Station. (General Cable Corporation, 2006)
General Cable Corporation is the not only the holder of the largest market share in the United States in the communication and energy and cable manufacturing sector, they are also one of the largest companies globally in these industries. In the United States alone, General Cable Corporation has an 11.17% market share. (IBISWorld, 2007) The company continues to grow through the acquisition of several smaller businesses and has a strong presence in developing economies worldwide. General Cable Corporation added to its global holdings in France, Spain, and China over the past two years. The company purchased Silec, a leading energy and industrial business in France; E.C.N. Cable, a Spanish manufacturer of transmission and power cables; and Jiangyin Huaming, a Chinese manufacturer of automotive and industrial cables to expand its operations. Another key expansion was made through the purchase of Phelps Dodge International Corporation. This wire and cable manufacturer holds a leading market position in Latin America, Africa, and Southeast Asia. (General Cable Corporation, 2006)
The global wire and cable market supplies various sectors that are vital to not only the day to day necessities of every day life, but also industry specific needs. One of the largest consumers of these products is the power industry. The communications cable and wire industry also utilizes specialty products as does the industrial sector.
The power industry is expected to show a sharp increase in demand for product from such manufacturers as General Cable Corporation in the coming years. The black out that hit the United States in 2003 demonstrated a need for an updating to the power grid system. This problem is not unique to the United States. There has been a call globally to reexamine power grids to determine where improvements are needed. This increase in demand for power industry related products will certainly improve General Cable’s standing in the world market.
The communications cable and wire segment of General Cable’s