1-17 National busiiness briefs
Houston Wire & Cable Co. to sell Southwest Wire Rope division HOUSTON â Houston Wire & Cable Co. announced that it has entered into a definitive asset purchase agreement for the sale of its Southwest Wire Rope business for a purchase price of $5 million, subject to a working capital adjustment. The sale excludes about $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 about $21.4 million as of Jan. 13 from a peak of $95....
Source: normantranscript.com
