NEW YORK: Wire and cable products maker General Cable Corp. said Thursday that its subsidiary, Norddeutsche Seekablewerke GmbH, received a project to install an undersea cable.
The link will stretch through the Mediterranean Sea from France to Egypt, with additional connections in Italy, Turkey and Cyprus. It will be more than 2,600 miles long and will be installed at depths of up to 11,000 feet, General Cable said.
The Germany-based subsidiary s share of the project is worth about $40 million with cable delivery and installation set to begin later this year, General Cable said.
General Cable shares fell 70 cents to $65.72 in aftermarket trading, after rising $1.48, or 2.3 percent, to $66.42 in the regular session. -AP
