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Belden to close plant in Canada, downsize operations

Posted: 15 Jan 2003 ?? ?Print Version ?Bookmark and Share

Keywords:telecommunications cable? belden?

Belden Inc. has announced that it will close its telecommunications cable plant in Ontario, Canada by September 2003 and will take several additional actions to adjust the company's product lines and capacity.

As a result of the closure, the products currently manufactured in the Kingston plant will be transferred to other Belden facilities, principally Belden's communications plant in Phoenix, Arizona. Belden recorded a liability for severance and other plant closing costs of about $13 million from the time of the purchase of the fab in October 2002.

"Due to the severe decline in the demand by all the major North American communications companies, there is a significant excess capacity in the industry for wire and cable telecommunications," said C. Baker Cunningham, chairman of the board, president, and CEO. "The closing of the Kingston plant and the other actions are necessary for us to remain competitive. We regret that conditions in the market have resulted in the loss of many good jobs."

Concurrent with the actions related to the Kingston plant, Belden has conducted a strategic review of its product lines in light of lower levels of demand, technology changes that affect customer needs, and industry trends. As a result, Belden will exit manufacturing and marketing of long-line, single-mode fiber-optic cable, discontinue certain minor, non-strategic products whose profit opportunities have become unattractive, and dispose of certain excess and inefficient equipment used in telecommunications cable manufacturing.

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