Houston wire & cable company to sell southern wire division

Houston, dec. 02, 2020 (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 southern wire business, a leading wholesale distributor of wire rope and rigging products, for a purchase price of $20 million, subject to a working capital adjustment. hwcc expects to use the net sales proceeds to reduce debt.
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