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GENERAL CABLE REACHES AGREEMENT IN PRINCIPLE FOR SALE OF MARATHON LeTOURNEAU COMPANY

 HIGHLAND HEIGHTS, Ky., Nov. 9 /PRNewswire/ -- General Cable Corporation (NASDAQ: GENC) announced today that it has reached an agreement in principle with Rowan Companies, Inc. of Houston, for the sale of the net assets of its Marathon LeTourneau Company ("Marathon") subsidiary for approximately $50 million, subject to certain adjustments. Consummation of a transaction is subject to execution of a definitive agreement, regulatory filings and certain other conditions. General Cable anticipates that a closing of the transaction would occur in the first quarter of 1994.
 General Cable previously announced its intention to sell the Marathon business, which manufactures large industrial equipment for the mining, timber, container handling and offshore drilling industry, in order to concentrate on General Cable's primary wire and cable business. Marathon's net sales as of Sept. 30, 1993 were $75.5 million.
 General Cable manufactures and markets electrical, electronic and telecommunications wire and cable under the Carol Cable, Capital Wire & Cable, Romex, Saturday's Helper, Philadelphia Insulated Wire and General Cable brand names for the construction, consumer, automotive, original equipment manufacturer, and telecommunications markets.
 Carol Cable, Romex, and Saturday's Helper are registered trademarks of General Cable Corporation.
 -0- 11/9/93
 /CONTACT: Robert J. Siverd, senior vice president, of General Cable, 606-572-8890/
 (GENC)


CO: General Cable Corporation; Marathon LeTourneau ST: Kentucky, Texas IN: MAC SU:

BM-KL -- CL008 -- 2088 11/09/93 09:04 EST
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Publication:PR Newswire
Date:Nov 9, 1993
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