General Cable increases stake in Phelps Dodge

By Associated Press
June 30, 2008 | Comments (0)

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General Cable Corp., which makes wire and cable said Monday it increased equity ownership in Phelps Dodge Philippines Inc. to 60 percent from 40 percent.

Phelps Dodge is a joint venture between A. Soriano Corp., a Philippine public holding company, and Phelps Dodge International Corp., a unit of General Cable that it acquired last year.

Phelps Dodge operates one of the largest wire- and cable-making facilities in the Philippines.

Increasing the stake in the company will allow General Cable to expand in Southeast Asia and support operations in Australia, the Middle East and South Africa, the company said.

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