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SOUTHWIRE COMPANY PURCHASES ASSETS OF KAISER ALUMINUM & CHEMICAL CORPORATION'S GEORGIA WIRE PRODUCTS DIVISION

 CARROLLTON, Ga., Jan. 5 /PRNewswire/ -- Southwire Company today announced it has completed the purchase of substantially all of the assets of the Georgia Wire Products Division of Kaiser Aluminum & Chemical Corporation.
 Southwire Specialty Products Division, an operating unit of Southwire, will manage the facility located in Macon, Ga.
 The specific terms of the purchase agreement will not be disclosed. The value of the transaction will be substantially less than $20 million.
 Georgia Wire Products, which began operations in 1989, is a manufacturer of aluminum alloy wire and screw machine stock for the transportation, construction and consumer markets.
 "Southwire has been in the aluminum business for many years. We currently operate an aluminum smelter that produces the highest aluminum purity in the world and two aluminum rod mills, one of which is dedicated to serving the alloy market. This facility will enhance our existing operations by giving us an additional outlet for our aluminum rod," said Glenn Mann, vice president, Southwire Specialty Cable Divisions. "More importantly, it will allow us to expand significantly in the alloy wire market and will provide a laboratory for the further development of continuous cast alloy products.
 "We will operate the facility much as it has been in the past, sustaining the high level of quality and customer service for which Georgia Wire Products is known."
 Kaiser Aluminum's Newark, Ohio, plant will continue to sell rolled rod to Macon under a long-term supply agreement and will have a long- term tolling arrangement for screw machine stock wire products.
 Headquartered in Carrollton, Ga., Southwire Company is America's largest wiremaker. Its products include copper and aluminum rod, wire and cable for the electrical industry.
 Kaiser Aluminum & Chemical Corporation is the operating subsidiary of Houston-based Kaiser Aluminum Corporation (NYSE: KLU), which is 87 percent owned by MAXXAM Inc. (AMEX: MXM).
 -0- 1/5/93
 /CONTACT: Nancy Fulginiti of Southwire Company, 404-832-4576, or Elizabeth M. Simon of Kaiser Aluminum, 510-271-3313/
 (KLU MXM)


CO: Southwire Company; Kaiser Aluminum & Chemical Corporation ST: Georgia IN: SU: TNM

RA-BR -- AT013 -- 1848 01/05/93 15:22 EST
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Publication:PR Newswire
Date:Jan 5, 1993
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