wiredinUSA June 2013

Harness facility closes Commercial Vehicle Group Inc (CVG) has revealed plans to close its wire harness assembly facility in DeKalb, Illinois, taking effect during the third quarter of 2013. Work currently undertaken at DeKalb will be transferred to CVG facilities in Edgewood and Monona, Iowa. KevinRLFrailey,presidentandgeneral manager of electrical systems for CVG, said: "To remain competitive, we continually evaluate CVG's manufacturing footprint based on changing customer demand and industry trends. As a result, we are realigning our North America wire harness capacity and consolidating our North American footprint from five to four wire harness facilities." He added: "We regret having to close our DeKalb facility and understand the impact this action will have on our employees and their families. However, following a long term, extensive analysis of our business and changing customer needs, it is a step we have to take to keep CVG an efficient and cost effective competitor in an evolving global economy."

Return of the dividend General CableCorp has announced a regular quarterly dividend to its shareholders for the first time since 2002. The initial dividend will be 18 cents per share, payable on 28 th June. The company’s board of directors has also extended its $125 million one year share repurchase program, originally adopted in October 2012, to the end of 2013. The program has yet to be used, due to restrictions imposed while the company restated its 2012 financials as a result of a mis-statement. “Over the past several years we have continuedtotransformthecompany, expanding into faster growing emerging markets, and enhancing our product portfolio in developed markets through both acquisitions and organic investments,” General Cable CEO and president Gregory Kenny said in a statement. and confidence in our operating model have strengthened considerably over this time, and we believe the company is now in the position to begin returningcash to shareholders.” “Our financial position

wiredInUSA - June 2013

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