WRCA Completes Purchase of Aceros Camesa

June 21, 2005 — Wire Rope Corporation of America, St. Joseph, Mo., announced it has completed the purchase of Mexico City-based wire rope manufacturer Aceros Camesa, S.A. de C.V. and Camesa, as well as their subsidiaries and affiliated companies from Grupol Industrial Camesa, S.A. de C.V. (GICSA). The closing took place Friday, June 17.

 

Camesa operates two plants in Mexico and two in the United States, as well as a distribution center in Lima, Peru. Located north of Mexico City, their Cuautitlan facility produces high carbon wire, prestressed concrete strand and galvanized utility strand. One key product line produced in Cuautitlan is tire bead wire used in tire manufacturing. The Vallejo plant in Mexico City serves as their primary wire rope manufacturing operation, as well as the production location for electromechanical cable used for data logging in oil and gas exploration.

 

In the United States, Camesa operates two plants in Rosenburg, Texas. The primary facility produces prestressed concrete strand, while the other Rosenburg location produces general purpose wire rope products sold in the local market. Camesa employs more than 550 personnel worldwide.

 

“The closing of this transaction is both an end and a beginning for WRCA,” said Ira Glazer, chief executive officer of WRCA. “In some sense, it is the end of the long path of this transaction, which has called upon the resources and dedication of the employees of both companies, very many of whom have worked so hard to complete this very difficult deal. It is also the end of the enormous task to rebuild WRCA which has taken the heartfelt dedication of all of our employees.”

 

Glazer also said that WRCA now has the opportunity to create a new company that will combine the resources of both businesses, which will result in a stronger, more complete operation.

 

With this acquisition, WRCA says it is the largest wire rope manufacturer in the western hemisphere. The company operates rope mills in St. Joseph and Sedalia, Mo., and a wire mill in Chillicothe, Mo. WRCA manufactures wire rope products for the crane, mining, and oilfield industries, as well as a line of wire rope slings, specialty assemblies, and structural products. WRCA employs more than 860 people worldwide.