The Prysmian Group and General Cable Corporation announced that they have gotten approval from the Committee on Foreign Investment in the United States (CFIUS) for Prysmian to acquire the U.S.-based company.

A press release said that the CFIUS represents the last official approval needed for the $3 billion acquisition. The closing is set for June 6, subject to the satisfaction or waiver of the remaining customary conditions to closing set forth in the merger agreement between the parties.

CTC Global and Pakistan Cables Limited announced that they have entered a partnership that allows Pakistan Cables Limited (PCL) to produce and sell CTC’s ACCC^® electrical conductor in Pakistan.

A press release said that CTC Global will provide PCL with CTC Global’s patented carbon fiber ACCC composite core in a range of sizes. Pakistan Cables—described as “the country’s first and leading manufacturer of wires, cables, overhead conductors, copper rod, PVC compound and aluminum profiles in Pakistan”—will make and deliver ACCC conductors tailored to meet the needs of Pakistan’s electric transmission and distribution utilities.

“We are pleased to launch this revolutionary technology for the first time in Pakistan,” PCL Executive Director J.D. Sitton said. “Our country needs more electric power and needs to move it efficiently. ACCC conductor will help to accomplish this.”

The United Nations has granted the International Cable Protection Committee (ICPC) consultative status that will allow it to attend special interest meetings and international conferences affecting the subsea cable community as well as to provide written and oral submissions during relevant U.N. meetings.

A press release said that the news means that the ICPC will no longer need to seek sponsorships or special accreditations to participate in U.N. activities. Earlier this year, ICPC appointed Squire Patton Boggs associate Alice de Juvigny as its United Nations Observer Representative (UNOR). She will now also carry out all responsibilities associated with the U.N. consultative status, it said.

Formed in 1958, ICPS’s primary goal is to promote the safeguarding of international submarine cables against man- made and natural hazards. Its forum includes technical, legal and environmental information about submarine cables. It has more than 170 members from some 60 nations, including cable operators, owners, manufacturers, industry service providers, as well as governments.

U.K.-based Volex, a manufacturer of standard and custom cable assemblies, reports that it has agreed to buy cable harnesses maker Silcotec for just shy of £16 million.

Per multiple media reports, the cash and stock deal will enable Volex to continue its mission to further consolidate what was described as the “highly fragmented cable assembly industry.” A few weeks earlier, Volex bought U.S.-based MC Electronics, a peer, in an all-share deal worth up to £2.6 million.

Based in Ireland, Silotec offers cables, assembles and box builds for the medical industry. Per the company’s website, it has a Centre of Manufacturing Excellence in Komarno, Slovakia. “Silcotec Europe can accommodate almost every sub contract manufacturing need. With 65,000 sq ft in Slovakia and the skilled teams within it we consistently adopt, adapt and improve our manufacturing systems to meet individual client needs.”

“This acquisition is an important step in expanding our Cable Assembly activities in Europe,” Volex Chairman Nat Rothschild said.

Liberty Steel USA said that preparations continue for the restart of Georgetown wire mill, South Carolina, with a new general manager and more than 100 recruits.

The company said that the new general manager, Revansidha “Rohit” Gulve, has joined the operation from Gerdau Steel in Beaumont, Texas. Staff is getting the previously shuttered melt shop, casters and rolling facilities ready for recommissioning.

“I’m really excited about this project because it is one of those great challenges,” Gulve said. “Anytime you restart a mill like that after three years down, it is a memory for life. My objective is to make the plant profitable in both good markets and bad and to have the best people working in the safest environment. I am very eager to understand and improve the cost structure, so it becomes a sustainable business for the long term.”

Michael Setterdahl, chief executive of Liberty Steel USA, part of Sanjeev Gupta’s GFG Alliance, said that “Rohit is a great addition to our management team. “We look forward to working with him as we build our business in Georgetown and across America.”

Liberty acquired the Georgetown plant from ArcelorMittal in December 2017 as the first part of its plan to bring its GREENSTEEL vision for low-carbon steel production to the U.S.

The U.S. International Trade Commission (ITC) has found that carbon and alloy steel wire rod imports from five countries were hurting U.S. producers, upholding a U.S. Commerce Department finding made in March.

The U.S. Department of Commerce had determined that exporters from Italy, Korea, Spain, Turkey, and the U.K. had dumped carbon and alloy steel wire rod in the U.S. at 12.41-18.89%, 41.10%, 11.08-32.64%, 4.74-7.94%, and 147.63% less than fair value, respectively. The April issue of WJI listed rates for individual companies.

The petitioners in the case were Gerdau Ameristeel US, Inc., Nucor Corporation, Keystone Consolidated Industries and Charter Steel. With the affirmative finding by the U.S. International Trade Commission (ITC), the Commerce Department will issue AD and CVD orders.

Bekaert reports that it has reached an agreement in principle with the Ontario Teachers’ Pension Plan to buy out its 33% equity share in the Bridon-Bekaert Ropes Group (BBRG).

A press release said that the ropes and advanced cords business, which became the BBRG at the end of June 2016, will become a wholly owned subsidiary of Bekaert. “Taking full ownership ... fits within the ambitions and strategy of Bekaert to grow a global ropes and advanced cords business that will create significant value over time for customers worldwide and for the Bekaert Group.”

Bekaert CEO Matthew Taylor said in the release that it made sense for the company to follow this direction as BBRG was established in a period that saw weak markets and integration challenges. "Taking full control ... will allow us to accelerate the turnaround efforts, drive greater synergies between BBRG and the Bekaert Group and take advantage of the complementary nature of the businesses.” He noted that the deal reflects Bekaert’s commitment to and belief in BBRG, and will enable it to focus on helping the business achieve its true potential."

“I will personally take up the role of CEO of BBRG, alongside my existing role as CEO of Bekaert,” Taylor said. He praised the efforts of Bruno Humblet, who he noted had been the driving force behind creating and integrating the Bridon-Bekaert Ropes Group, as well as the Ontario Teachers’  "for the collaborative approach, active cooperation and drive they brought to the joint venture over the last two years."

The agreement, subject to customary closing conditions including regulatory approvals, is expected to be completed in the coming months, the release said.