Mexican Industrial corporation Xignux has completed acquisition of American Bare Conductor in LaSalle, Illinois, and will be adding 100 employees to the current workforce of 41 by next year.
The 290,000-square-foot facility is now part of Xignux’ Viakable CME Wire & Cable division (VKMUSA), manufacturing electric wire and cable. Xignux is an industrial consortium based in Monterrey, Nuevo Leon, Mexico which employs more than 20,000 people worldwide.
“We are happy to be in LaSalle and grow our business in the Illinois Valley,” said Adolfo Riveron, chief executive officer of Viakable LaSalle.
The City of LaSalle and the Illinois Valley Area Chamber of Commerce (IVAC) provided important business retention assistance to Xignux Viakable. “IVAC was pleased to assist with the new acquisition, helping the development team with supporting data,” said IVAC executive director Joni Hunt.
The North Central Illinois region already boasts 62 foreign-owned manufacturing operations. Intersect Illinois, the Illinois Department of Commerce and Economic Opportunity and North Central Illinois EDC are actively promoting more foreign direct manufacturing investment in Illinois. This job-creating acquisition by Xignux demonstrates the profit-making advantages of Illinois, which is the fifth-largest state for foreign direct investment.
American Bare Conductor, established in 2006, will now operate under the name Viakable Manufacturing (VKMUSA) and will service the U.S. market through its parent company CME, which is a top electrical wire and cable suppliers in the industry. Through the years, CME has experienced continuous growth by providing quality products that are produced at industry-leading turnaround times and with a strong commitment to customer service.
Xignux is comprised of four divisions: cables, transformers, infrastructure and foods. They operate over 25 production facilities and a diverse group of distribution centers in Mexico, the U.S., India, Brazil and Colombia. Xignux currently exports over half of its sales to more than 40 countries.