WRCA completes purchase of Aceros Camesa

01 May 2008

Wire Rope Corporation of America, Inc. (WRCA) has completed its purchase of Aceros Camesa, and Camesa, Inc. and their subsidiaries and affiliated companies from Grupo Industrial Camesa, S.A. de C.V. (GICSA).

With this acquisition, WRCA becomes the largest wire rope manufacturer in the westernhemisphere and perhaps the world, the company claimed. With all manufacturing facilities combined, WRCA will have more than 250,000 tons of wire mill capacity and rope mill capacity exceeding 100,000 tons.

Ira Glazer, CEO of WRCA, said, “This combination of two highly successful organizations will offer additional opportunities for our customers, our suppliers and our employees. The acquisition will result in a larger, stronger operation with considerable diversity in product and geographic reach. Certainly our strategy includes building a secure work environment with significant growth opportunity for all of our employees.”

Camesa operates two plants in Mexico and the US, and a distribution center in Lima, Peru. The Vallejo plant in Mexico City is the primary wire rope manufacturing operation. There are also two plants in Rosenberg, TX. The primary facility produces pre–stressed concrete strand. The other Rosenberg plant produces general purpose wire rope products sold locally. Worldwide, Camesa has more than 550 employees.

WRCA operates rope mills in St. Joseph and Sedalia, MO and a wire mill in Chillicothe, MO. Also available are wire rope slings, specialty assemblies and structural products. WRCA employs more than 860 people worldwide.

The acquisition was financed through an asset–based loan agented by HSBC Business Credit (USA) and a term loan arranged by JP Morgan Securities and Jefferies & Company.


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