Houston Wire & Cable to use Southern Wire sale to reduce debt

Chicago, Dec. 2 – Houston Wire & Cable Co. plans to use the $20 million sale of its Southern Wire business to reduce debt, according to a news release.

The company announced that it entered into a definitive asset purchase agreement.

The $20 million is subject to a working capital adjustment.

The transaction is subject to customary closing conditions and is expected to close at year end.

The company is a Houston-based provider of electronic cable, fiber optics, instrumentation, cable and asset management programs.

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