Article: New York Company to Acquire Fort Wayne, Ind., Magnet Wire Maker.

Knight Ridder/Tribune Business News

Oct. 23--Essex International Inc. of Fort Wayne agreed Thursday to be acquired by a New York company for $1.4 billion.

Superior TeleCom Inc., a maker of copper telecommunications wire, is buying Essex for its profitable and growing magnet and building wire businesses.

Magnet wire is used in motors, transformers and electrical controls, and building wire is used to transmit electricity in homes and buildings.

Those stable businesses will limit the risk of Superior's volatile sales of wiring used to connect homes to the nearest phone company switch. Sales of the wiring have been buoyed by the growth of ...

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