Mitch Hausman Promoted to Chief Executive Officer

Mitch Hausman
CEO – Delta Rigging & Tools

Pearland, TX — Delta Rigging & Tools, Inc., one of the largest providers of lifting and rigging products and related services in the United States, today announced that Mitch Hausman has been promoted to Chief Executive Officer.

“I have the utmost confidence in Mitch’s ability to lead Delta Rigging & Tools, to solidify and strengthen our strong market position, and enhance even further our reputation as the finest rigging and lifting company in the United States,” said Kevin Rodgers who will move from Chief Executive Officer to Executive Chairman of the Board.

“It’s very exciting to lead Delta Rigging and Tools while continuing to implement our strategy and take advantage of the market opportunities ahead,” said Mitch. “We will continue to be acquisition oriented  as well as organic growth focused.”

Houston Wire & Cable Company Completes Acquisition of Southwest Wire Rope and Southern Wire

Houston Wire & Cable Company announced today that it has completed its previously announced acquisition of Southwest Wire Rope LP, a supplier of custom fabricated lifting equipment and Southern Wire, LLC, a supplier of industrial wire rope and related hardware.

Houston Wire & Cable Company Announces Agreement to Acquire Southwest Wire Rope and Southern Wire

Houston Wire & Cable Company today announced that it has entered into a definitive agreement to acquire Southwest Wire Rope LP and Southern Wire, LLC from Teleflex Incorporated .

Under the terms of the agreement, the purchase price for the acquisition of both companies is $50 million, subject to an adjustment based on the net working capital of the acquired companies as of the closing date. HWCC expects to finance the payment of the purchase price through borrowings under its existing credit facility. The acquisition is subject to customary closing conditions, and is anticipated to close before the end of the second quarter of 2010.