Industrial Electric Wire & Cable Signs Purchase Agreement for Peter Augsten Wire & Cable, GmbH

January 31, 2008

Industrial Electric Wire and Cable has finalized an agreement to acquire Peter Augsten Wire & Cable GmbH, a company based out of Frankfurt, Germany. Peter Augsten Wire & Cable GmbH is a stocking distributor of UL/CSA certified electric wire, cable and wire management products providing service to the automotive, switchboard, portable power, control, signal and tray cable users within the local European markets.

P. Augsten began its journey in 1981 when Peter Augsten opened the doors of the company. In 1999, after 18 years of service, the company was acquired by Gerald Müller.

Gerald Müller, head of Peter Augsten Wire & Cable, will join Industrial Electric to lead the newly acquired business as Managing Director of P. Augsten Wire & Cable GmbH. He will report directly to the Vice President of International Sales, John Dew.

The acquisition of Peter Augsten Wire & Cable GmbH will further the expansion of Industrial Electric's product offerings and their continued focus on the service and support of OEM’s and Sub-Assemblers worldwide.

For further information please contact David Nestingen, President, Industrial Electric at (262) 782-2323 or via email at daven@iewc.com.

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