southwest wire rope houston tx brands

Southwest Wire Rope"s Engineering Services Department provides engineered lifting devices, lift plans, and engineered load testing services under the leadership of experienced Professional Engineers with extensive experience in heavy lifting.

• Tensile Strengths are determined in accordance with Cordage Institute 1500.2. Test Methods for Fiber Rope. Minimum Tensile Strength (MTS) published assumes spliced eye tenninations at each end of the rope. Weights actually calculated at linear density under state preloaded (200d’J plus 4%. Diameter and circumference size published is nominal and reflects rope size after loading (10 cycles) to 50% ofMTS. See reverse side for application and safety information .

Plasma® 12 strand is the highest strength synthetic rope available. Plasma® 12 strand is manufactured from High Modulus Polyethylene (HMPE) that has been enhanced by Cortland’s patented recrystallization process. This process is especially effective in medium to large diameter ropes where strengths are over 50% higher and creep is significantly less than that of standard Spectra® 12 strand.

HOUSTON, March 15, 2021 (GLOBE NEWSWIRE) -- Houston Wire & Cable Company (Nasdaq: HWCC) today announced that it completed the sale of its Southwest Wire Rope business, a leading provider of lifting slings and wire rope and rigging products, for a purchase price of $5 million, subject to a working capital adjustment. The sale excluded approximately $2.9 million of trade accounts receivable, which HWCC retained. HWCC used the net sales proceeds of approximately $3.4 million to further reduce revolver debt.

James L. Pokluda III, HWCC President & CEO commented, “We are pleased that we were able to complete the sale of Southwest Wire Rope and, as communicated in prior releases, applied all sale transaction proceeds towards the reduction of debt. The company has made remarkable revolver debt reduction progress over the last twelve months. Including the $3.4 million received, and collection of the estimated $2.9 million of trade accounts receivable, we estimate proforma revolver debt to be $15.4 million, which is a reduction of $70.5 million versus the close of the first quarter 2020.”

With 45 years’ experience in the industry, Houston Wire & Cable Company, an industrial distributor, is a large provider of products in the U.S. market. Headquartered in Houston, Texas, the Company has sales and distribution facilities strategically located throughout the United States.

Standard stock items available for immediate delivery include continuous and interlocked armor cable; instrumentation cable; medium voltage cable; high temperature wire; portable cord; power cable; primary and secondary aluminum distribution cable; private branded products, including LifeGuard™, a low-smoke, zero-halogen cable; and corrosion resistant fasteners, hose clamps, and rivets.

HOUSTON, Jan. 13, 2021 (GLOBE NEWSWIRE) -- Houston Wire & Cable Company (Nasdaq: HWCC) today announced that it has entered into a definitive asset purchase agreement for the sale of its Southwest Wire Rope business, a leading provider of lifting slings and wire rope and rigging products, for a purchase price of $5 million, subject to a working capital adjustment. The sale excludes approximately $2.6 million of trade accounts receivable, which HWCC will retain. HWCC expects to use the net sales proceeds and accounts receivable collections to further reduce Revolver debt.   HWCC has already reduced Revolver debt to approximately $21.4 million as of January 13, 2021, from a peak of $95.2 million in the first quarter of 2020.

James L. Pokluda III, HWCC President & CEO commented, “Southwest Wire Rope is a company that for over fifty years has been a leading supplier of quality lifting slings, wire rope and rigging supplies to the lifting industry. We wish them much success in the future. Proceeds from the sales of Southern Wire and Southwest Wire Rope allow us to reduce debt, which lessens financial risk in these uncertain times.”

With 45 years’ experience in the industry, Houston Wire & Cable Company, an industrial distributor, is a large provider of products in the U.S. market. Headquartered in Houston, Texas, the Company has sales and distribution facilities strategically located throughout the United States.

Standard stock items available for immediate delivery include continuous and interlocked armor cable; instrumentation cable; medium voltage cable; high temperature wire; portable cord; power cable; primary and secondary aluminum distribution cable; private branded products, including LifeGuard™, a low-smoke, zero-halogen cable; mechanical wire and cable and related hardware, including wire rope, lifting products and synthetic rope and slings; corrosion resistant fasteners, hose clamps, and rivets.

We offer a large inventory of import & domestic wire rope including specialty, general purpose and galvanized options. In addition to our traditional green and white wire rope, we provide a full line of wire rope fabrication through 3.5 inch diameter including proof testing. Southern Wire also offers an extensive line of synthetic slings including web and poly-round slings, private labeled with a custom name and contact information.

HOUSTON — Houston Wire & Cable Company (HWCC) announced Wednesday that it has entered into a definitive asset purchase agreement for the sale of its Southwest Wire Rope business, a provider of lifting slings and wire rope and rigging products, for a purchase price of $5 million, subject to a working capital adjustment. The sale excludes approximately $2.6 million of trade accounts receivable, which HWCC will retain. HWCC expects to use the net sales proceeds and accounts receivable collections to further reduce Revolver debt. HWCC has already reduced Revolver debt to approximately $21.4 million as of January 13, from a peak of $95.2 million in the first quarter of 2020.

James L. Pokluda III, HWCC President & CEO commented, “Southwest Wire Rope is a company that for over fifty years has been a leading supplier of quality lifting slings, wire rope and rigging supplies to the lifting industry. We wish them much success in the future. Proceeds from the sales of Southern Wire and Southwest Wire Rope allow us to reduce debt, which lessens financial risk in these uncertain times.”

HWCC announced Jan. 6 that it completed the sale of its Southern Wire business, a wholesale distributor of wire rope and rigging products, to Southern Rigging Companies. The sale closed on December 31, 2020 for a purchase price of $20 million, subject to a working capital adjustment. HWCC used the net proceeds of approximately $18.1 million to reduce debt.

The Company made great progress reducing debt during the year as Revolver debt decreased $66.4 million from its peak of $95.2 million in the first quarter to $22.6 million at year-end. The Revolver debt reflects proceeds from the sale of the Southern Wire division at December 31, 2020 of $18.1 million. Excluding the Southern Wire proceeds, Revolver debt at year-end would have been $40.7 million.

James L. Pokluda III, HWCC President & CEO commented, “We are excited we were able to complete the Southern Wire sale in 2020 and I am pleased to report that the sale of this division, together with our prudent management of working capital and expense reduction initiatives, has allowed us to reduce our debt to $28.8 million at year end, down 70% from the peak in 2020. In addition, we were able to achieve this debt reduction while maintaining our outstanding customer service.”

With 45 years’ experience in the industry, Houston Wire & Cable Company, an industrial distributor, is a large provider of products in the U.S. market. Headquartered in Houston, Texas, the Company has sales and distribution facilities strategically located throughout the United States.

Standard stock items available for immediate delivery include continuous and interlocked armor cable; instrumentation cable; medium voltage cable; high temperature wire; portable cord; power cable; primary and secondary aluminum distribution cable; private branded products, including LifeGuard™, a low-smoke, zero-halogen cable; mechanical wire and cable and related hardware, including wire rope, lifting products and synthetic rope and slings; corrosion resistant fasteners, hose clamps, and rivets.

Houston companies in energy services, real estate services and consumer technology have announced deals in recent days. Here"s a look at where money is going in this edition of the M&A Roundup.

Industrial distributor Houston Wire & Cable Co. (Nasdaq: HWCC) completed the sale of its Southwest Wire Rope business, which provides lifting slings, wire rope and rigging products. The deal was first announced in January.

Southwest Wire Rope was purchased for $5 million, and the deal excluded approximately $2.9 million of trade accounts receivable that HWCC retained. Net proceeds from the sale of around $3.4 million were used to further reduce HWCC"s revolver debt, the company announced March 15.

"We are pleased that we were able to complete the sale of Southwest Wire Rope and, as communicated in prior releases, applied all sale transaction proceeds towards the reduction of debt. The company has made remarkable revolver debt reduction progress over the last 12 months," said James Pokluda III, president and CEO of HWCC. "Including the $3.4 million received, and collection of the estimated $2.9 million of trade accounts receivable, we estimate proforma revolver debt to be $15.4 million, which is a reduction of $70.5 million versus the close of the first quarter 2020."

In late December, HWCC completed the sale of its Southern Wire business to Paducah, Kentucky-based Southern Rigging Cos. LLC for $20 million, in order to further reduce debt.

Houston-based Stewart Information Services Corp. (NYSE:STC), one of Houston"s largest publicly traded companies, announced the acquisition of Plymouth, Michigan-based A.S.K. Services on March 22. A.S.K. Services is a provider of search and support services to the title industry. Terms of the acquisition were not disclosed.

Houston-based Wave Electronics, a distributor of connected home, audio and video products, sold certain assets to Palo Alto, California-based investment firm Altamont Capital Partners, the firms announced March 18. Wave"s nine branch locations in Texas, Louisiana, Arizona and Florida were acquired in the transaction.

Houston-based Innovex Downhole Solutions Inc., a service and technology provider to onshore and offshore oil and gas producers, completed its acquisition of Houston-based Rubicon Oilfield International, the firms announced March 11. Terms of the deal were not disclosed.

Rubicon also provides technology and technical services to the oil and gas sector. Rubicon has presences in North America, South America, Europe, Africa, Asia and the Middle East, according to the company"s website. The combined firm is led by Adam Anderson, CEO of Innovex.

Since 1966 Southwest Wire Rope has expanded to become a recognized global wire rope supplier serving diversified markets with material handling, lifting & mooring products at five full-service locations. Large, full-range inventory includes their trademark “Gold Strand” wire rope; bright, galvanized, stainless steel & vinyl coated cable; plus wire rope slings & a variety of fittings & hardware.

Founded in 1975, Houston Wire & Cable Company (NASDAQ: HWCC) is one of the largest distributors of electrical wire and cable and related services in the U.S. industrial distribution market. The June 2010 acquisition of Southwest Wire Rope, LLP and Southern Wire, LLC broadened the Company"s product offering to include mechanical wire and cable and related hardware. With strategically located sales and distribution centers throughout the U.S., our team is focused on providing a single-source solution. We are committed to providing our customers value by offering high levels of industry experience, superior customer service, and a large selection of quality in-stock items.Houston Wire & Cable is a well-established company. It was founded way back in 1975. This time-proven company loves to hire graduates from Texas State University, with 13.3% of its employees having attended Texas State University. Want to explore some other great places to work in Houston, TX? You can check out our full list of Best Companies to Work For in Houston, TX.Based in Houston, TX, Houston Wire & Cable is a medium-sized transportation company with 338 employees and a revenue of $393.2M.The Organization’s MissionTo provide all employees with a safe workplace, the opportunity to be proud of the quality of the products and services we provide, and the long-term satisfaction of our customers and suppliers.Industry

Houston Wire & Cable is ranked #64 on the Best Transportation Companies to Work For in Texas list. Zippia"s Best Places to Work lists provide unbiased, data-based evaluations of companies. Rankings are based on government and proprietary data on salaries, company financial health, and employee diversity.See All Best Workplace Rankings

We calculated the diversity score of companies by measuring multiple factors, including the ethnic background, gender identity, and language skills of their workforce.Show More Houston Wire & Cable Demographics

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Houston Wire & Cable"s mission statement is "To provide all employees with a safe workplace, the opportunity to be proud of the quality of the products and services we provide, and the long-term satisfaction of our customers and suppliers."

Houston Wire & Cable competitors include OmniCable, Wallace Hardware, Wurth Service Supply, Alaskan Diesel Electric, FELLERS, Carlson Systems Holdings Inc, Pacific Bag, Inc., Freight Management, Piedmont National, CaribEx Worldwide, International Brands ( Pvt ) Ltd, Yellow, ADO, Mobile Mini, Kelsan, Concordia International Forwarding Corporation, Team Express Services, Jenne, Univenture, United Pipe & Steel Corp.

Zippia gives an in-depth look into the details of Houston Wire & Cable, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Houston Wire & Cable. The employee data is based on information from people who have self-reported their past or current employments at Houston Wire & Cable. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Houston Wire & Cable. The data presented on this page does not represent the view of Houston Wire & Cable and its employees or that of Zippia.

Houston Wire & Cable may also be known as or be related to HOUSTON WIRE & CABLE, HOUSTON WIRE & CABLE CO, Houston Wire & Cable, Houston Wire & Cable Co, Houston Wire & Cable Company and Houston Wire & Cable Company Inc.

HOUSTON, Texas and WEST CHESTER, Pa., March 25, 2021 (GLOBE NEWSWIRE) -- Houston Wire & Cable Company (NASDAQ: HWCC) (HWCC) and Omni Cable, LLC (OmniCable) today announced that they have entered into a definitive agreement under which OmniCable will acquire all outstanding shares of HWCC common stock for $5.30 per share in an all-cash transaction valued at $91 million. The price represents a premium of 39% to HWCC’s unaffected closing price of $3.80 on March 24, 2021 and an 89% premium to the $2.81 average closing price for the preceding 12-month period. The transaction was unanimously approved by HWCC’s Board of Directors. All HWCC directors and officers have agreed to vote their shares, including shares held by The D3 Family Funds, in favor of the transaction. Such shares currently represent approximately 19% of the issued and outstanding shares as of March 24, 2021.

The combined company results in a national wire and cable redistribution industry leader that will maximize OmniCable’s and HWCC’s highly complementary businesses, products and national footprint to better meet the needs of both companies’ customers. The combined company also will continue HWCC’s fastener redistribution business. Following the close of the transaction, each company will retain its own brands and its existing locations.

With 45 years’ experience in the industry, Houston Wire & Cable Company, an industrial distributor, is a large provider of wire and cable and fastener products in the U.S. market. Headquartered in Houston, Texas, the Company has sales and distribution facilities strategically located throughout the United States.

Omni Cable, LLC (OmniCable) is a premier redistributor of wire and cable, electrical products, and value-added services. OmniCable empowers our industry to be successful by providing an exceptional experience through operational excellence, accuracy and precision, and a partnership approach. Stocking locations include Philadelphia, PA; Atlanta, GA; Boston, MA; Charlotte, NC; Chicago, IL; Denver, CO; Houston, TX; Los Angeles, CA; San Francisco, CA; Seattle, WA; St. Louis, MO, Tampa, FL, Cincinnati, OH, and Toronto, ON.

Promptly after filing the definitive Proxy Statement with the SEC, HWCC will mail the definitive Proxy Statement and a proxy card to each stockholder entitled to vote at the annual meeting at which the Transaction will be considered. STOCKHOLDERS ARE URGED TO READ THE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS THAT HWCC FILES WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE TRANSACTION. Investors and security holders will be able to obtain the documents (when available) free of charge at the SEC’s web site, http://www.sec.gov, at HWCC’s website, www.houwire.com, or by writing to HWCC at Houston Wire & Cable Company, 10201 North Loop East, Houston, TX 77029, attention: Corporate Secretary.

In November, Southwire recognized Veterans Day, Native American Heritage Month, International Men’s Day and Thanksgiving by hosting efforts across the company that provided opportunities to get more involved and celebrate together.