Last $24.04 USD
Change Today -0.19 / -0.78%
Volume 27.9K
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As of 9:39 AM 07/11/14 All times are local (Market data is delayed by at least 15 minutes).

general cable corp (BGC) Snapshot

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11/4/13 - $34.61
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05/1/14 - $22.76
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general cable corp (BGC) Details

General Cable Corporation designs, develops, manufactures, markets, and distributes copper, aluminum, and fiber optic wire and cable products for the energy, industrial, construction, specialty, and communications markets worldwide. The company offers electric utility products, such as low- and medium-voltage distribution cables; high- and extra-high voltage power transmission cable products; bare overhead conductors; and submarine transmission and distribution cables, as well as provides design, integration, and installation services for products, such as high and extra-high voltage terrestrial and submarine systems. It also offers electrical infrastructure products, including rubber and plastic jacketed wires and cables, low- and medium-voltage industrial power cables, ignition wire sets, and cable wire harnesses, as well as rail and mass transit, shipboard, oil and gas, armored mining, and alternative energy power generation cables. In addition, the company provides communications products comprising high-bandwidth twisted copper and fiber optic, multi conductor and pair fiber and copper networking, telecommunications exchange, coaxial, and low detection profile cables, as well as fiber-optic submarine cable systems, submarine networks, and offshore integration systems. Further, it offers construction products consisting of construction, flexible cords, and flame retardant cables, as well as rod mill products, including copper and aluminum rods. The company sells its products directly to utilities, independent distributors, retailers, contractors, and original equipment manufacturers. General Cable Corporation was founded in 1992 and is headquartered in Highland Heights, Kentucky.

15,000 Employees
Last Reported Date: 06/18/14
Founded in 1992

general cable corp (BGC) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $900.0K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $440.0K
Executive Vice President, Chief Executive Off...
Total Annual Compensation: $442.7K
Executive Vice President, Chief Executive Off...
Total Annual Compensation: $331.9K
Compensation as of Fiscal Year 2013.

general cable corp (BGC) Key Developments

General Cable Corp. - Special Call

To discuss the implementation of a restructuring program designed to improve profitability and return on invested capital in each of its three reportable segments

General Cable Corporation Announces Restructuring Program; Expects to Eliminate 1,000 Positions Globally

General Cable Corporation announced it is implementing a restructuring program designed to improve profitability and return on invested capital in each of its three reportable segments. The restructuring program, which builds on the company's existing productivity and asset optimization plans, is expected to result in ongoing annual savings of approximately $75 million, beginning in 2014 with full realization starting in early 2016. The restructuring program is focused on the closure of certain underperforming assets as well as the consolidation and realignment of other facilities. The company is also implementing reductions in selling, general and administrative (SG&A) expenses globally. Collectively, the restructuring program is expected to generate $10 million of savings in 2014, increasing to ongoing annual savings of $75 million beginning in 2016. As a result of the restructuring, the company expects to record pre-tax charges of approximately $200 million, which includes approximately $80 million of cash costs. The Company anticipates a majority of the total charges will be incurred in 2014. These actions are anticipated to result in the elimination of approximately 1,000 positions globally, representing nearly 7% of the company's workforce. Progress on the restructuring will be communicated periodically throughout the implementation of the program which is expected to be completed over the next 12 months. The timing and costs of the restructuring program may vary from the company's current estimates based on certain factors, including the finalization of timetables for the transition of production, consultations with employees and other statutory severance requirements of particular legal jurisdictions as well as any other actions that may result from the company's ongoing evaluation of its portfolio.

General Cable Corp. Announces Executive Changes

In February 2014, General Cable Corp. disclosed that Robert J. Siverd announced his intention to retire from his role as Executive Vice President, General Counsel and Secretary of company. Mr. Siverd's last day with the Company was July 1, 2014. The Company is actively conducting a search process for Mr. Siverd's replacement. As Executive Vice President, General Counsel and Secretary, Mr. Siverd served as both the Company's Chief Legal Officer and Chief Compliance Officer. Until his successor is appointed, Emerson C. Moser, Vice President, Assistant General Counsel and Assistant Secretary, will serve as the Company's interim Chief Legal Officer and Diana C. Toman, Vice President, Assistant General Counsel and Assistant Secretary will serve as the Company's interim Chief Compliance Officer.


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