southwest wire rope company in stock

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.

Southwest Wire Rope was established in 1966 to meet a strong demand for reliable service and quality wire rope required by industries along the Gulf Coast. Since those early years, we have expanded and increased our product line to meet diversified markets around the world. Today, we are a prime supplier of material handling, lifting & mooring products globally with a quality management system certified to ISO 9001:2015 by Det Norske Veritas.

In 1983, we introduced our identifying trademark to the industry that has become synonymous with the word “quality”. That trademark is “Gold Strand” wire rope identified by the distinctive gold colored strand.

Today, “Gold Strand” wire rope is marketed by many wire rope companies throughout the world and is recognized as a quality product supplied by Southwest Wire Rope.

Southwest Wire Rope maintains a large inventory of wire rope in a full range of diameters and constructions to meet the needs and expectations of the market, in addition to testing capabilities up to 1.5 million lbs.

Manufacturer of material handling, lifting and mooring products required by industries along the Gulf Coast. The company"s products include wire rope slings, nylon slings, round slings, chain, shackles, thimbles, sockets and other related products.

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.

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.

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 Wire & Cable Co. (Nasdaq: HWCC), Houston, Texas, on Wednesday announced that it has agreed to sell its Southwest Wire Rope business in an asset transaction for $5 million.

The sale of Southern Wire Rope, a Houston-based provider of lifting slings and wire rope and rigging products, excludes $2.6 million of trade accounts receivable, which HWCC will retain. HWCC said it expects to use the net sales proceeds and accounts receivable collections to further reduce revolver debt.

“Southwest Wire Rope is a company that for over 50 years has been a leading supplier of quality lifting slings, wire rope and rigging supplies to the lifting industry,” said James L. Pokluda III, HWCC president and CEO. “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.”

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.

As previously communicated, the Company’s year-end goal was to lower Revolver debt to between $40 to $45 million, excluding a divestiture. The Company achieved its Revolver debt goal and believes the substantial debt reduction of $66.4 million lessens financial risk without any deterioration of its ability to provide excellent customer service.

The Company also has a Paycheck Protection Program (“PPP”) loan of $6.2 million which was received on May 4, 2020 and funded under the Coronavirus Aid, Relief, and Economic Security Act. We anticipate approximately $5.8 million of this loan will be forgiven in 2021. Total debt at December 31, 2020, which includes the Revolver and PPP debt, was $28.8 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.

Founded in 1966, Southwest Wire Rope is a supplier of material handling, lifting and mooring products. The company offers a broad range of lifting products, including wire-rope slings, nylon slings, round slings, chains, drop-forged U-bolts, malleable wire-rope clips, stainless screw-pin anchor shackles, towing shackles, sling shackles, Hawser and equalizing thimbles, swage sockets, spelter sockets, turnbuckles and drop-forged swivels. The company s wire ropes are available in an array of diameters and galvanized and stainless steel constructions. Southwest Wire Rope maintains inventory at distribution centers in Sulphur and New Iberia, La.; Kansas City, Mo.; and Houston. The company is headquartered in Houston.

Houston Wire & Cable Co. (Nasdaq: HWCC), Houston, Texas, on Monday announced that it completed the sale of its Southwest Wire Rope business in an asset transaction for $5 million.

“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,” said James L. Pokluda III, HWCC president and CEO. “The company has made remarkable revolver debt reduction progress over the last 12 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.”

Fugate has spent more than a decade working in the oil & gas industry.  Most recently, Jay worked in Sales and Customer Service and was responsible for many high profile offshore accounts at Bishop Lifting in Houston, Texas.  His vast experience and knowledge of different facets of the industry along with his unmatched enthusiasm make Fugate a great fit with the Southwest Wire Rope sales team.

The Company continues sharing its success with shareholders as this first quarter dividend marks the twenty-third payment since the dividend initiation in August 2007.  With over 35 years experience in the industry, Houston Wire & Cable Company is one of the largest providers of wire and cable in the U.S. market.   Continue reading →

Southwest Wire Rope, a division of Houston Wire & Cable Company, is very pleased to announce the appointment of Jason Fetter to Vice President and General Manager of Southwest Wire Rope.

Southwest Wire Rope,a division of Houston Wire & Cable Co., is pleased to announce the addition of Brandon Thompson to their Houston sales office. Thompson holds a Bachelors Degree in Business Administration from Belhaven University and is currently pursuing his Masters Degree in Business Admin.

In November 2012, Houston Wire & Cable Co. was named the ‘Import Customer of the Year’ by Mallory Alexander International Logistics. Founded in 1925 in Memphis, TN, The Mallory Group is an international freight forwarder and customs brokerage firm that offers state of the art logistical solutions. Southern Wire, a division of HWC, began working with the Mallory Group more than 8 years ago. In 2008, Southwest Wire Rope, a division of HWC, was introduced to the group followed by HWC’s corporate offices in 2010.

Houston Wire & Cable Company, is proud to add Rick Shepherd to their corporate inside sales team.  Shepherd brings with him more than a decade of sales experience and product knowledge in the Rigging Industry.  He also knows his way around a rigging shop as he has worked in both the shop and in the office.  Rick is excited to apply his knowledge and customer service skills to his new position and is enjoying the opportunity to learn from and share with others.

With 35 years experience in the industry, Houston Wire & Cable Company is one of the largest providers of wire and cable in the U.S. end user market. Headquartered in Houston, Texas, HWCC has sales and distribution facilities strategically located throughout the nation.