PD selling magnet wire assets in N. America
Nov 16, 2005 | 09:02 AM
| Matthew Lerner
Moving to focus more on core activities, Phelps Dodge Corp. has agreed to sell most of its North American magnet wire assets to Rea Magnet Wire Co. Inc., Fort Wayne, Ind., for $125 million.
The move is in response to the need for rationalization in the North American magnet wire business, according to a Phelps Dodge spokesman. The Phoenix-based company had said previously that it would be looking at strategic options for some of the activities within its Phelps Dodge Industries unit.....
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