Baddi: General Cable Corporation, a Fortune 500 company and one of the most globally diversified industrial companies, has completed construction on its state-of-the-art manufacturing facility in Baddi, Himachal Pradesh, India.
Chief Minister Prem Kumar Dhumal inaugurated the plant today with more than 200 high-ranking government officials and business leaders in attendance.
Also in attendance were Mr. Mathias Sandoval, General Cable President and CEO Rest of World, Mr. Peter Campbell, General Cable Senior Vice President of Asia and Mr. Sandeep Sood, General Cable Country Head of India Operations.
Designed and built in compliance with Indian Green Building standards, the manufacturing facility is situated on 20 acres of land in the industrial town of Baddi, in the state of Himachal Pradesh.
Baddi is one of the faster growing cities in India and quickly becoming a manufacturing hub for multinational companies.
“By designing ‘green’ from the ground up, we have seen immediate benefits in operating costs. These include energy savings of 30% to 40% and water savings of 20 to 30% when compared to other similar wire and cable operations. We have created a better-quality work environment for our associates, which will promote good health and safety practices and therefore increase productivity. We are off to a great start and are excited about our future,” said Sandeep Sood, Country Head of India Operations.
The broad range of products to be developed and manufactured at the facility include aerial transmission conductors, low, medium and high voltage power cables, building wire, control, instrumentation and specialty cables. At current installed capacity, the facility is capable of generating annual revenues in the range of $100 to $120 million, complementing the Company’s existing exports into the country.
“The opening of any new facility is a significant achievement, but the quality of execution at this plant in Baddi has been exceptional. I want to recognize the support of the state of Himachal Pradesh and our employees who have helped make this plant a reality as we address the outstanding opportunities in the growing Indian market,” said Mathias Sandoval, General Cable President and CEO Rest of the World.
General Cable (NYSE:BGC), a Fortune 500 Company, is a global leader in the development, design, manufacture, marketing and distribution of copper, aluminum and fiber optic wire and cable products for the energy, industrial, specialty, construction and communications markets. For more information about General Cable products, please contact your local sales representative or visit our Web site at www.generalcable.com.
Certain statements in this press release, including without limitation, statements regarding future financial results and performance, plans and objectives, capital expenditures and the Company’s or management’s beliefs, expectations or opinions, are forward-looking statements. Actual results may differ materially from those statements as a result of factors, risks and uncertainties over which the Company has no control. Such factors, risks and uncertainties are more fully discussed in the Company’s Annual Report on Form 10-K for the fiscal year ending December 31, 2011, filed with the Securities and Exchange Commission on February 23, 2012 and subsequent SEC filings. You are cautioned not to place undue reliance on these forward-looking statements.