Leviton Signs Definitive Agreement to Sell AIW Assets
Melville, New York, January 18, 2010 -- Leviton Manufacturing Company, Inc. today announced that it has signed a definitive agreement with Southwire Company to sell certain assets of American Insulated Wire Corporation (AIW), a subsidiary of Leviton.
In the agreement, Southwire will acquire the AIW brands and manufacturing facilities in Douglas, Georgia and Coffeyville, Kansas, both of which produce a variety of electrical wire and cable products for the commercial, industrial and OEM markets. The purchase is expected to close by the end of February.
"American Insulated Wire was acquired in 1936, and has been an integral part of Leviton ever since. However, as we continue to shift our offering to more value-added systems and solutions, we no longer see AIW's wire and cable products as strategic to the future direction of the Leviton Company," stated Donald J. Hendler, Leviton President and CEO.
About Southwire Company
A leader in technology and innovation, Southwire Company manufactures building wire and cable, metal-clad (MC) cable, FlatWire Ready® products, cord products, utility cable products, industrial power cable, OEM wire products, copper and aluminum rod and continuous casting technology. Southwire is also a leading supplier of wire and cable installation tools by MAXIS® to the commercial, industrial and utility construction markets.
About Leviton Manufacturing Company
Leviton Manufacturing Company is a leading global manufacturer of electrical wiring devices, data center connectivity solutions and lighting energy management systems. Founded at the turn of the 20th century, Leviton has grown to become one of the most preeminent leaders in the electrical industry. Today Leviton's product portfolio consists of over 25,000 devices and systems used in homes, businesses and industry. Nine out of ten homes throughout North America have Leviton products installed in them, and builders, electrical contractors and other industry professionals rank Leviton products #1 in brand preference. For more information, contact Leviton Manufacturing, 201 North Service Rd., Melville, NY, 11747, www.leviton.com.
