Ryerson Holding Corp. (Ryerson) announced that it has entered an agreement via a subsidiary to acquire Central Steel & Wire Company (CSW), a metal service center with six locations across the Central and Eastern U.S.

A press release said that the deal, valued at $140 million, will see CSW continue to operate under its current brand name following the closing of the transaction. CSW has some 900 employees, and annual revenues of approximately $600 million. In addition to wire, it provides bar, coil, plate, sheet and tubing.

Ryerson, a value-added processor and distributor of industrial metals, has operations in the U.S, Canada, Mexico and China, the release said. Founded in 1842, it has 3,700 employees in approximately 100 locations.

Ryerson President and CEO Eddie Lehner said that the deal serves both of the companies and their customers. “We are excited to elevate the best of Central Steel & Wire while leveraging Ryerson’s intelligently networked service centers to infuse (our collective customers) with a broader and deeper array of products with comprehensive processing capabilities.”

CSW President and CEO Steve Fuhrman said the deal bolsters both companies. “The leverage this merger creates will benefit our diverse customer base, grow our respected supplier relationships, and provide opportunity for further development of our loyal employees.”

At its website, CSW notes that the company’s customers range from Fortune 50 companies to large OEMs to small, independent fabricators, “all of whom enjoy access to a selection of prime ferrous and nonferrous metal products that is second to none.”

The company was founded in Chicago in 1907, at which time it had seven employees. Locations were added over the years, and by the end of the 1970s CSW facilities totaled 1,865,000 sq ft. In 1997, a branch facility was opened on Greensboro, North Carolina. In 2001, it opened Central Coil Processing, and by its 100th anniversary in 2009, the company had 1,100 employees in six facilities, and was listed as one of the top 20 metals distributors by sales. In 2013, it formed Central Steel Fabricators, a division of CSW, to provide value-added processing.

The Prysmian Group and General Cable Corporation announced that they have gotten approval from the Committee on Foreign Investment in the United States (CFIUS) for Prysmian to acquire the U.S.-based company.

A press release said that the CFIUS represents the last official approval needed for the $3 billion acquisition. The closing is set for June 6, subject to the satisfaction or waiver of the remaining customary conditions to closing set forth in the merger agreement between the parties.

U.K.-based Volex, a manufacturer of standard and custom cable assemblies, reports that it has agreed to buy cable harnesses maker Silcotec for just shy of £16 million.

Per multiple media reports, the cash and stock deal will enable Volex to continue its mission to further consolidate what was described as the “highly fragmented cable assembly industry.” A few weeks earlier, Volex bought U.S.-based MC Electronics, a peer, in an all-share deal worth up to £2.6 million.

Based in Ireland, Silotec offers cables, assembles and box builds for the medical industry. Per the company’s website, it has a Centre of Manufacturing Excellence in Komarno, Slovakia. “Silcotec Europe can accommodate almost every sub contract manufacturing need. With 65,000 sq ft in Slovakia and the skilled teams within it we consistently adopt, adapt and improve our manufacturing systems to meet individual client needs.”

“This acquisition is an important step in expanding our Cable Assembly activities in Europe,” Volex Chairman Nat Rothschild said.

The Prysmian Group announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act that applies to its proposed acquisition of General Cable Corporation has expired, clearing a key step in the process.

A press release said that as a result of the above-cited requirement, the transaction has been cleared for U.S. antitrust purposes. The transaction remains subject to other regulatory approvals and customary conditions.

Chase Corporation announced that it has acquired Stewart Superabsorbents (SSA), LLC, an advanced superabsorbent polymer (SAP) formulator and solutions provider, with operations located in Hickory and McLeansville, North Carolina.

  A press release said that for its most recently completed calendar year, SSA and its recently acquired Zappa-Tec business (collectively “Zappa Stewart”) had combined revenue in excess of $24 million. Zappa Stewart’s products include materials for diverse markets that include wire and cable, for which it provides direct application of swellable powder, liquid, or hot melt adhesives for substrates such as non-wovens, yarns, strength members and shielding tapes.

  The business, the release said, was acquired for $71,382,000, net of cash acquired, pending any working capital adjustments and excluding acquisition-related costs. As part of the deal, Chase acquired the business equity and entered into multiyear leases at both locations.  

“This is a highly complementary acquisition for Chase Corporation which leverages our existing channels to industrial markets and allows us to deliver more value to our customers,” said Chase President and CEO Adam P. Chase. “Zappa Stewart’s proven protective materials technology is a great fit with our core strategy and extends our reach into growing medical and consumer applications. Their North Carolina operations will broaden our capabilities, and will add two facilities near the three we already have in the region. The new technologies and additional management talent will enhance our cross-functional operating model, creating logical synergies and value-creation opportunities.”

  Chase Corporation will continue to manufacture and market under the Zappa Stewart brands and locations, with plans to integrate Zappa Stewart into its ERP platform in the coming months to further enhance existing operational, development and engineering expertise.

Brazil’s Gerdau S.A. has agreed to sell Optimus Steel LLC its wire rod mill in Texas, and two downstream facilities, for $92.50 million.

A press release said that the deal will include Gerdau’s wire rod mill in Beaumont. The mill has a melt shop capacity of approximately 700,000 tons, and is capable of producing both wire rod and coiled rebar. The sale also includes two downstream facilities: Beaumont Wire Products and Carrollton Wire Products. Beaumont Wire Products. The former was described as a wire mesh mill and the latter as a supplier of industrial wire into the greater U.S. southern region.

The news follow a previous announcement by Gerdau of the sale of four rebar mills and nearly three dozen downstream facilities to Commercial Metals Company for US$600 million. Once the two separate deals close, Gerdau, which was part of a recent trade case seeking to limit the in-flow of low-cost imported wire rod, will be out of that sector.

Gerdau Chief Executive Gustavo Werneck said that the company will “focus on more value-added products.” It will continue to have a considerable presence in North America, with 18 facilities, 15 in the U.S. and three in Canada that produce merchant steel, structural steel and some rebar.

Nexans announced that it has acquired a controlling interest in BE CableCon, a Danish company that supplies cable kits to wind turbine companies.

A press release said that the investment is part of Nexans’ strategy to reinforce the company’s portfolio of activities beyond cable manufacturing and accelerate growth in the renewable energy sector. BE CableCon designs, engineers and manufactures kits that enable wind turbine companies to simplify the installation of the power, control and communication cable systems in towers and nacelles. It offers low and medium voltage applications including connectors, pre-connected and pre-assembled cable kits and customized packing for complete ready-to-install kits.

“We have developed an excellent working relationship with BE CableCon as a subcontractor for our own kitting projects,” said Alain Robic, Nexans vice president industry solutions and projects. “Bringing them into the Nexans Group is a key step in our strategy to take greater control of critical elements within the value chain so that we can offer customers a complete engineered connection system.”
BE CableCon chief executive Klaus Moller will head the Nexans cable kit subsidiary company