LASALLE — Viakable, through its U.S. subsidiary CME Wire & Cable, recently completed the acquisition of American Bare Conductor assets, an Illinois-based wire and cable manufacturing company located in LaSalle. Viakable plans to hire 100 more employees by this time next year.
“We are happy to be in LaSalle and grow our business in the Illinois Valley,” Adolfo Riveron, CEO of CME Wire & Cable, said.
The Illinois Valley Area Chamber of Commerce and Economic Development assisted with the new acquisition, helping the development team with supporting data to make investment decisions that support the company’s growth, and ultimately invest in the Illinois Valley.
“It was a pleasure working with their team, and Viakable’s presence in the Illinois Valley will be a great asset,” Joni Hunt, IVAC executive director, said. “Employing more workers in the Illinois Valley has a positive effect on the regional economy and contributes to all of our services and overall quality of life.”
American Bare Conductor will now operate under the name Viakable Manufacturing LLC and will service the U.S. market through its parent company, CME Wire & Cable Inc.
Viakable is part of the Xignux group of companies. Xignux is a Mexican industrial consortium based in Monterrey, Nuevo Leon, which employs more than 20,000 people. It is comprised of four divisions: cables, transformers, infrastructure and foods.
They operate more than 25 production facilities and a diverse group of distribution centers in Mexico, the USA, India, Brazil and Colombia. Xignux currently exports more than half of its sales to more than 40 countries worldwide.