A few months after naming Eric Sills President and CEO, Standard Motor Products has made another move for the future. SMP announced the acquisition of General Cable Corporation’s automotive ignition wire business. The acquisition includes the purchase of General Cable’s automotive ignition wire business in North America as well as a subsidiary in Mexico. The integration process is expected to take approximately 12-18 months.
Commenting on the announcement, Eric Sills, Standard Motor Products’ Chief Executive Officer and President, stated, "We are very pleased to announce this acquisition. General Cable is a fine company with a long and successful history in this field. They supply some of the most prestigious customers in the industry. Our goal will be to maintain the best features of both companies to become the best possible ignition wire supplier to all General and SMP customers. We believe the acquisition will be accretive to earnings in year one, excluding one-time integration costs."