HIGHLAND HEIGHTS, KY. — Tyco International Ltd., a diversified manufacturing and service company, has reached an agreement with cable maker General Cable Corp. to acquire General Cable Corp.’s Pyrotenax high-temperature cable unit, according to reports. General Cable Corp. entered the deal, worth some $60 million, to reduce debt and focus more on communications and energy cables, reports said.
The deal is expected to close in the current quarter. It is subject to execution of a definitive purchase agreement and regulatory approval in Canada, which, along with the United Kingdom, is where Pyrotenax has its principal operations, reports said.
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Earlier this week, Tyco announced that its Fire & Security Services subsidiary had acquired Scott Technologies, a designer and manufacturer of respiratory systems and other life-saving devices for the firefighting and aviation markets. That deal was estimated to be worth some $400 million.
