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Stamford-based private equity firm Olympus Partners has agreed to acquire the International Wire Group (IWG) from its parent company, Atlas Holdings, in a deal reported to be valued at more than $900 million.

“When we acquired IWG, we partnered with (IWG CEO and President) Greg Smith to transform and grow the business. In the four years since, we have seen IWG cement its industry-leading position and create a unique platform for continued growth,” Atlas Partner Neil Mahajan said in a written statement. “We are looking forward to continuing to support the company in this new chapter with Olympus Partners.”

“The company has been built up over time and needs more capital to grow as it gets to the next stage,” Olympus Partners CEO and Chairman Rob Morris said of his firm’s agreement to acquire International Wire Group Holdings. “That’s the role we’re here to play.”

IWG, headquartered in Camden, New York, is the largest U.S. non-vertically integrated copper and copper-alloy wire products manufacturer in the United States. Its product line includes single-end wire and copper wire on bobbins, stranded conductors, metal and textile braided products, and flat wire as well as over braiding services for copper wires. Worldwide, IWG has 19 manufacturing facilities and a distribution facility in its business units. Those include its Bare Wire Division, which includes Continental Cordage and High Performance Conductors; Owl Wire; and International Wire Europe, which has five factories operated by Italtrecce (Italy), Tresse Métallique J.Forissier (France), and International Wire Polska (Poland).

Atlas, which acquired IWG in April 2019, will continue as an investor in the company, following the expected closing of the deal in the second quarter of this year. Atlas and its affiliates own and operate 26 companies. Olympus CEO and Chairman Rob Morris has said that he sees much potential for IWG as its product lines serve growing markets such as electric vehicles, electric charging stations, airplanes and data centers. “The company has been built up over time and needs more capital to grow as it gets to the next stage. That’s the role we’re here to play.”

IWG President and CEO Gregory Smith said that he greatly appreciated the growth that was made possible by Atlas, and the next stage. “I’m looking forward to continuing to serve our long-standing customers and continuing our growth with our new partners at Olympus.”

Last modified on May 3, 2023

NKT has been awarded a supply contract for the delivery of the high-voltage DC on- and offshore export cable system to the Hornsea 3 project which is being developed by Ørsted.

A press release said that the order calls for the design, manufacturing, jointing and termination of the export power cable system for Hornsea 3. It will include two circuits with a route length of approximately 170 km of 320 kV DC offshore cable and 50 km of 320 kV DC onshore cable as well as four circuits for a 1.5 km route of 400 kV AC onshore cable. The DC system will connect the wind turbines with the substation while the AC cables will connect the substation to the national grid. The final order has an estimated value of €500 million.

NKT notes that, last year, the company completed its role as supplier for Hornsea 2. Subject to Ørsted taking a final investment decision, Hornsea 3 will be located in the North Sea, approximately 160 km off the Yorkshire coast. When Hornsea 3 comes online, the combined capacity of Hornsea 1, 2 and 3 will be in excess of 5 GW, making it one of the world’s largest offshore wind zones and capable of covering the power consumption of approximately five million U.K. homes.

NKT will produce the power cables at its high-voltage factory in Karlskrona, Sweden. The project is scheduled to be completed in 2027.

Last modified on May 3, 2023

Leoni AG has reached an agreement with lenders, bondholders and a strategic investor on a financial-restructuring plan that will result in the business having a firmer financial base through a series of steps being taken.

Per multiple media accounts, Leoni said that it will receive a liquidity injection of €150 million and be relieved of €708 million in debts as part of the financial restructuring. The company will no longer be publicly traded. A company to be established by Austrian investor Stefan Pierer will become Leoni’s sole shareholder The official release said that the deal does not affect Leoni’s subsidiaries, suppliers, customers and employees. The financial restructuring concept will, as a result, substantially reduce Leoni’s debt, provide it with fresh liquidity and secure its financing for the coming years..

Pierer, a billionaire, is CEO of Pierer Mobility, a leading motorcycle manufacturer based in Austria. He founded the Cross holding group (now Pierer Industrie) in 1987, and is still its majority shareholder as well as a member of the supervisory board of SHW AG, an auto parts company.
Rinnerberger has many years of management experience in the automotive industry, combined with extensive re-structuring expertise. For example, he helped to shape the growth of the Magna Group over a period of years—consistently in board functions (CFO, CRO, CEO)—and successfully restructured the automotive suppliers Polytec AG and Peguform (now SMP). Rinnerberger has been a member of the Executive Board of Pierer Industrie AG since 2010. The native Austrian has been a member of the Supervisory Board of Leoni AG since May 2021 and was elected its chairman in May 2022.

Leoni’s Supervisory Board Chairman Klaus Rinnerberger will become its new chief executive following merger control clearance, the company said. He succeeds Aldo Kamper, whose contract ended on March 31. “I am looking forward to doing my part in further driving the advanced restructuring - with the collective goal of a sustainably stabilized Leoni firmly in sight,” he said.

The company said that while it has now secured the necessary support for the restructuring, implementation remains subject to clearance of merger controls and other customary approvals.

Last modified on May 3, 2023

ABB announced that it plans to invest $40 million to build a new manufacturing facility on the company’s existing campus in Albuquerque, New Mexico.

Per a report in the Albuquerque Journal, the new site is being built on a 40-acre site near the existing ABB plant that has some 450 employees. The new plant will add 55 more jobs when it is up and running in 2024.

Ralph Donati, executive vice president and general manager for ABB’s Installation Products Division in the U.S. and Latin America, said that the project was ambitious. “We’re not just expanding, but upgrading our manufacturing capacity in Albuquerque,” Donati told the Albuquerque Journal. “The new plant will be a greenfield facility with the latest technology in processing, machine manufacturing and robotics to make it a factory for the future.”

The new plant will double ABB’s local production capacity of cable products used by electric utilities, which is the primary ABB product made in Albuquerque, Donati said.

Last modified on May 3, 2023

Nexans has been chosen by Swissgrid to supply and bury 30 km of Very-High-Voltage (VHV) underground cables to replace overhead power lines along the southern side of the Geneva-Cointrin airport in Switzerland.

A press release said that Swissgrid, the national company in charge of Switzerland’s electricity transmission grid, chose Nexans for the project that will see the 220 kV underground cables replace the existing overhead power lines between the electrical stations of Foretaille and Renfil. The €25 million turnkey contract also calls for it to install two 144-strand fiber optic links and embed a temperature monitoring feature in the cable system.

The Swissgrid project is part of the “Axe Stratégique Réseau” development programs in the canton of Geneva and the Federal Roads Office’s “Redevelopment of the Grand-Saconnex motorway junction.” The overhead power line burial project was described as being exceptional due to its complex nature, both technically and organizationally. Nexans will be in charge of certain engineering services, including taking down and replacing the existing gas-insulated extra high voltage link (GIL).

“We welcome the opportunity to continue our work with Swissgrid on this ambitious and prestigious project, relying on the many and varied skills of the Nexans teams, from engineering to civil works, but also including the production and installation of very high voltage networks,” said Nexans Switzerland CEO Marco Spinelli.

The release said that Nexans has been active in such complex very-high-voltage cable projects in Switzerland before, including the connection of the Nant de Drance (2018), the Linth-Limmern (2016) pumped storage power plants to the national grid, and the underground cable connection of La Bâtiaz – Le Verney (2022).

Last modified on May 3, 2023

CommScope announced that it is expanding its fiber-optic cable production to help feed an accelerated rollout of broadband Internet in the U.S.

A press release said that the capacity expansion at two production facilities in North Carolina—projected to cost $47 million—will increase employment by at least 250 jobs over five years. The capital expenditures include new lines of production for its HeliARC cable, a smaller and lighter-weight cable optimized for rural deployment and allowing for faster installation at lower cost.

“This increase in fiber-optic cable production is a great step forward for our ‘Broadband for Everyone’ program, furthering our commitment to serve the fiber optic cable market,” said CEO/President Chuck Treadway. “We will produce more cost-effective and easier-to-deploy fiber-optic cable, add new jobs and simultaneously strengthen the supply chain in America.”

Last modified on May 3, 2023

Teknor Apex has bought Nu-Pro Polymers, a manufacturer and supplier of reprocessed and recycled flexible PVC pellet compounds that seeks to convert PWVC waste streams into products that perform for customers.

A press release said that Nu-Pro, based in Wheeling, Illinois, works with clean post-industrial (PIR) streams and converts them into new PVC compounds which perform equivalently to prime compounds. Nu-Pro specializes in clear, natural and black reprocessed compounds in a range of durometers. Per company’s co-owner Don Brown, the flexible, reprocessed and recycled PVC compounds incorporate up to 90% post-industrial recycled content.

Under the acquisition, Nu-Pro will continue to produce products for Teknor Apex at this time, under the Cycle-Tek brand as a subsidiary of Teknor Apex. “We are very excited about this acquisition that will further enable us to develop innovative compounds that meet the performance and sustainability requirements of our customers,” said Teknor Apex Executive Vice President Lou Cappucci.

“The acquisition of the Nu-Pro business is another step in ensuring vinyl continues to be a sustainable option in the plastics manufacturing market,” said Sunny Mahajan, Sr., technical manager, Teknor Apex, and business manager, Cycle-Tek. Based in Pawtucket, Rhode Island, Teknor operates 14 manufacturing facilities worldwide.

Last modified on May 3, 2023

IEWC reports that it has added a new distribution center to support its growing customer base in Southeast Asia.

A press release said that the new facility, located in the east region of Singapore, adds nearly 20,000 sq ft of warehouse and office space to IEWC’s footprint within Asia. “Singapore was a logical choice for IEWC’s next expansion,” said Michelle Osman, IEWC president & Chief Business Officer, Global OEM Group. “Our customers continue to grow and invest in Southeast Asia, and we’re responding by placing our service closer to where our customers are. We are excited to bring even higher service levels to our customers in Southeast Asia and beyond.”

Adding to the existing distribution centers in Hong Kong and Suzhou, IEWC’s new Singapore facility will support growing demand across Asia, providing faster service to customers in several areas experiencing significant industrial growth, including Singapore, Malaysia, Thailand, Indonesia, Philippines, and Vietnam. With the addition of the Singapore distribution center, IEWC continues to build out its global reach, joining facilities currently located across North America, Europe and Asia.

IEWC is a global distributor of wire and cable products, manufacturer of custom fiber assemblies, and provider of value-add solutions that advance a connected world. It has nearly 30 locations in seven countries, serving customers in almost 100 countries.

Last modified on May 3, 2023

George Muthalaly has joined MIKROTEK as Director of Products and Markets – Americas. He has diverse international experience in Europe, the Middle East & Africa, the Indian Subcontinent, and the Americas. Before joining Mikrotek, he worked for more than a decade as general manager/director in various roles in sales and marketing at AT&T, where he was recognized as a “Top talent GM.” He holds a B.E. degree in engineering from the University of Bangalore and an MBA from Bauer College of Business, University of Houston. Based in Bangalore, India, and serving more than 30 countries, MIKROTEK supplies a wide range of dies, related equipment and reconditioning and repolishing services.

Andy Lewis has been named commercial manager – wire & tube, for Metalube. He is well known to the wire and cable industry as for the last 11 years he has been executive manager of the U.K.-based the International Wire and Machinery Association, which is the industry’s largest and most influential association for the wire, cable and wire products industries. Prior to that, he worked for 10 years for Hydratight Limited. Based in the U.K., Metalube is part of the Metalube Group, which includes the industrial lubricant brands of Metalube, Molyslip and Vapor-Tek. Metalube exports 95% of its production to over a hundred countries worldwide.

Steve Coker has joined National Standard Co. as a district sales manager for Oklahoma, Texas, Arkansas and Louisiana. He will manage distributors and end users for the company’s welding wire portfolio. He has a strong background with experience in welding wire and welding product sales. Most recently, he was a territory manager for Lampton Welding Supply, and has held sales positions with Fastenal Company, Cone Solvent and Praxair. Part of The Heico Companies and based in Stillwater, Oklahoma, the product lines of National Standard include welding wire, tire bead wire and industrial wire.

Chroma Color Corporation has named Gretchen Dragich as vice president of supply chain management & strategic sourcing. She has more than 30 years of experience in the plastics and chemical industry, with past employers including GEON, A. Schulman, LyondellBasell, Goodyear Tire & Rubber, Gates Corporation and Akzo Nobel. She has broad experience in strategic & global sourcing, ERP implementation management, sales, procurement and the supply chain. She holds a B.S. degree in chemical engineering from the University of Pittsburgh and a Master’s degree in chemical engineering from the University of Akron. Based in McHenry, Illinois, Chroma Color Corporation is a leading specialty color and additive concentrate supplier.

Times Microwave Systems (TMS) has promoted Global Operations Director Adrian Milne to be the company’s new general manager. He joined the company in 2020, and prior to that held several senior management positions at W.L. Gore & Associates. At TMS, he oversaw the establishment of the company’s India operation and the expansion across all facilities. He succeeds Ben Reed, who has been promoted to the role of group general manager of the Amphenol High Technology Industrial Group (AHTI). He joined TMS in 2016 as deputy general manager and was promoted to general manager in 2017. He holds an MBA from INSEAD, and B.S. and a Master’s degrees in mechanical engineering from UC San Diego. Based in Wallingford, Connecticut, Times Microwave Systems makes high-performance coaxial cables and more.

Optimas Solutions has named Phil Battaglia as its CFO. He has more than 25 years of financial management and reporting expertise, most recently at Caterpillar Inc. He holds a BA degree in economics from Northwestern University. Based in Wood Dale, Illinois, Optimas is a leading global industrial distributor and service provider specializing in fastening and supply chain solutions.

Mike Ritterling has joined Enercon Industries Corporation in the newly created position of technical support & field service manager. The position centralizes leadership and coordination of the company’s field service engineers and technical support departments. He has industry experience that includes globally produced plastics and additive manufacturing machinery. He has led international support teams and also assisted customers with hands-on troubleshooting, repair and field support. He holds a B.B.A. degree in business administration, management and operations from Marian University. Based in Menomonee Falls, Wisconsin, Enercon Industries Corporation supplies custom built corona and atmospheric plasma treating systems as well as induction cap sealing systems.

Leibinger has named Christophe Lopez as its chief commercial officer, responsible for the company’s overall commercial development, from strategy to implementation, leading the sales and marketing teams. He has more than 15 years of experience in the coding and marking industry, including 12 years at Markem-Imaje, where he held multiple key positions, including overall responsibility for global sales, global marketing. He most recently was president of the main location in France with over 600 employees. He holds an engineering degree from INSA Rennes and an executive MBA with the highest honors from HEC Paris. Based in Germany, Leibinger serves multiple market industries, including inkjet printers for wire and cable manufacturing.

Obituaries

U.K. wire industry veteran who twice served as Clockwinder passed on April 13
Peter Rigby, whose U.K. family ran a venerable wire company for decades and has played a special role with the Association over three generations, died from heart failure on April 13, while visiting family in Nashville, Tennessee.

Born in Leeds in 1940, Rigby grew up in West Yorkshire, the son of John Rigby, principal of John Rigby & Sons., Ltd. In 1948, his father served as the first-ever Clockwinder, traveling to the U.S. on behalf of the British wire industry to wind the stately Grandfather’s Clock that had been sent in appreciation for help provided by U.S. wire manufacturers during World War II.

Peter Rigby followed his father’s lead, both in the family wire business as well as the Clockwinding tradition, serving in that role in 1979, as chairman of Rigby Maryland, and again in 1998, as part of Handy & Harman (Europe), Ltd. Further, his son, Jonathan Rigby, served as the Clockwinder in 2013, then employed in the U.S. by Fox Wire Limited. Other Rigby family members who shared those duties were C.P. Rigby, in 1954 and 1988; and Harold Rigby, in 1958, both as directors of John Rigby & Sons.

The 1998 Clockwinding was a special celebration as Rigby noted during his speech at what marked the 50th anniversary of the tradition. “Fighting for liberty had cost a lot of money and a lot of lives. It still does. It is with this background that I think we can safely say why these men gave this clock: in our darkest hour, fighting for our liberty, the United States of America came to our aid, and that is also why it gives the clockwinders so much pleasure to come here every year to wind it.”

John Rigby enjoyed a successful 40-year career building and managing the U.K.’s leading stainless steel wire company. He attained the position of Master Liveryman of The Worshipful Company of Tin Plate Workers alias Wire Workers of the City of London, working hard to grow the organization and deepen its relevancy to industry. He was known for his close ties to his friends and family, his strong sense of civic duty, and boundless enthusiasm.

“It’s an amazing legacy,” said WAI Executive Director Steve Fetteroll. “The Rigby name has meant a lot to the industry over the years. Peter Rigby was dedicated to the wire industry, and he was both a gentleman and genuinely passionate about the wire and cable business. He was also instrumental in continuing the Clockwinding tradition as well as supporting the Wire Link Scholarship program.”

Rigby is survived by his wife, Sue; daughter Clare; son Jonathan; and four granddaughters, Emily, Freya, Boo and Cecily.



Daniel D. Masakowski,
a retired technical director for the Marmon Group, died March 25, 2023 at his home in Stonington, Connecticut, at age 77, following a lengthy battle with cancer.

Masakowski was a long-time employee of Rockbestos Suprenant, part of the Marmon Group, where he retired as technical director. He was widely recognized in the wire and cable industry as an innovative, pioneering engineer who received accolades and awards for his accomplishments and contributions. He was a member of the Insulated Cable Engineers Association (ICEA) and the president of the ICEA Control and Instrumentation Division. He held numerous industry patents and presented numerous papers at national and international technical conferences and symposia. He was especially proud of developing and leading an engineering internship program at Ferris College, Michigan and at the University of Connecticut, Storrs in the Material Science and Engineering Department for the development of future engineers.

He is survived by his wife of 58 years, Yvonne R. (Centak); a son, Daniel Masakowski; a daughter, Jennifer Coley; sisters Ladislava Kowalski, Sabina Pietraszko and Joan Jackson; three grandsons and one great-granddaughter; and numerous nieces and nephews.



Last modified on May 4, 2023

Plans are still being finalized for the XI International WAI Poland Chapter Seminar, which is scheduled to be held Nov. 23-24, 2023, but some of the details are presented here.

Chapter President Jan Pilarczyk said the seminar is to be held at the METALURGIA Hotel in Radomsko. Notices are just going out for the event, which will see presentations and a discussion panel and dinner the first day, and paper presentations the second day.

Per the tentative schedule, the event begins Thursday, Nov. 23, with lunch, followed by the opening of the seminar that includes a welcome by a city official. Scheduled presenters at this point include: Robert J. Glodowski, The Evolving Technology of Steel Rod Manufacturing- A Personal Perspective, from 1:30 pm to 1:55 pm; Tom Moran, Development of a high-carbon wire that could be drawn to ultra high tensile strength 285, (a joint effort project by National Standard and Southwire), 1:55 pm to 2:20 pm; a presentation by Jan Krnac, 2:20 pm to 2:24 pm; and a coffee break followed by a session on coaching (business topic: leasing, business financing), from 3:15 pm to 3:45 pm.

A discussion panel—The condition of the steel industry in the era of political and economic destabilization in the post-Covid period and in the face of war in Ukraine— will be held from 3:45 pm to 6:30 pm. Subjects will include steel, raw materials, delivery, prices, media, photovoltaics, other RES, development prospects, creating new products, innovative economy, corporate social responsibility, industry 4.0, digitization /automation. Moderators will include Piotr Milewski, Adam Świerczyński and Piotr Pawlak (proposal of further moderators).

Dinner will follow at 7 pm, with awards presented to Krnac and Głodowski. On Friday, papers will be presented from 10 am to noon, followed by lunch. For more details go to www.msc.wip.pcz.pl and look for updates here in future issues.

Last modified on May 3, 2023

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