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Superior Essex is one of the largest wire and cable manufacturers in North America based on revenues. The company was formed in 2003 to acquire and conduct the business formerly conducted by Superior TeleCom. Prior to December 2002, Superior TeleCom (then a subsidiary of The Alpine Group Inc) also manufactured wire and cable products for the electrical markets.
In March 2003, Superior TeleCom and certain of its US subsidiaries filed voluntary petitions for relief under Chapter11 of the US Bankruptcy Code in the US Bankruptcy Court for the District of Delaware. Superior TeleCom managed its properties and operated its businesses as a "debtor-in-possession" under the jurisdiction of the Bankruptcy Court and in accordance with the applicable provisions of the Bankruptcy Code. Superior TeleCom's UK and Mexican operations were not included in the Chapter11 filings.
Superior TeleCom decided to file a reorganisation proceeding because it had been experiencing continued liquidity shortfalls, which hampered its ability to meet interest and principal obligations on its long-term indebtedness. These shortfalls were primarily a result of Superior TeleCom's leverage, the overall global economic downturn, and specific industry conditions, including reduced demand levels in the communications sector caused by, among other things, substantial spending reductions by the regional Bell operating companies (RBOCs), and independent telephone operating companies, and reduced demand levels in the magnet wire sector.
In accordance with a Plan of Reorganisation, on November 10, 2003, Superior Essex acquired the business formerly conducted by Superior TeleCom and its subsidiaries, and Superior TeleCom and certain of its dormant subsidiaries were deemed dissolved and ceased to have continuing corporate existences. The Plan of Reorganisation provided for the cancellation of all outstanding shares of common stock of Superior TeleCom, including those held by Alpine, and Alpine had no equity ownership in Superior Essex as of the effective date of the Plan of Reorganisation.
Superior Essex Inc is a manufacturer and supplier of communications wire and cable products to telephone companies, CATV companies, distributors, and systems integrators, and magnet wire and insulation materials to major original equipment manufacturers (OEMs) and, through its distribution operations, to small OEMs and the motor maintenance, repair, and overhaul industry. The company also converts copper cathode to copper rod for sale to other wire and cable manufacturers. Superior Essex operates manufacturing and distribution facilities in the US, the UK, and Mexico.
