BICC sells telecoms cabling business for $133m

BICC sells telecoms cabling business for $133m
Richard Wilson
BICC has agreed to sell its cabling business to US firm Corning for $133m in cash. This represents a decision by the UK construction group that telecoms cabling is no longer core to its business.
According to the firm’s chief executive Alan Jones: “We believe that the proposed sale at an attractive price reduces the risk and volatility of earnings for BICC shareholders and demonstrates BICC’s continuing commitment to taking radical and decisive action as markets change.”
The BICC Brand-Rex, specialist data cable business will be retained outside the US.

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