General Cable Corporation (NYSE:BGC) reported today that its
subsidiary, Norddeutsche Seekablewerke GmbH (NSW), has been awarded
its first submarine power contract by BARD Engineering GmbH, for more
than $30 million related to the construction of BARD Offshore 1. BARD
Offshore 1 is a 400 megawatt wind farm consisting of 80 wind turbines
that will be located north-west of the Isle of Borkum in the North
Sea.
BARD Offshore 1 is the first commercial wind farm to be located in
the North Sea and is expected to be completed in 2010. NSW will
produce approximately 66 miles of power cable for the infield
infrastructure portion of the project which will harness the
electricity generated by the turbines for transmission back to shore.
The field will be located in water 75 miles offshore with a depth of
approximately 130 feet. "We believe that the North Sea will be an area
of high growth for wind power generation due to its ideal conditions
of high sustainability of wind and shallow waters, key factors
allowing for efficient use of the turbines and for anchoring the
windmill towers. With its long history and experience in submarine
cabling systems, NSW is ideally positioned to take advantage of this
high growth opportunity," said Valentin Jug, Chairman of NSW.
General Cable acquired NSW in April 2007 and began an investment
program to expand the capability of the facility to include submarine
power cables and repeatered submarine telecommunications cable. NSW is
located on a tributary of the North Sea, with its own deep-sea pier.
The Company believes that once the expansion of NSW is completed, it
will be well positioned to address all aspects of submarine cable
needs for the expanding offshore wind farm market.
NSW, headquartered in Nordenham, Germany, is a leading
manufacturer of submarine fiber optic communications and offshore
power cables serving customers all over the world. For more
information about NSW, please visit our website at www.nsw.de.
General Cable is a global leader in the development, design,
manufacture, marketing and distribution of copper, aluminum and fiber
optic wire and cable products for the energy, industrial, and
communications markets. Visit our website at www.generalcable.com.
Certain statements in this press release, including without
limitation, statements regarding future financial results and
performance, plans and objectives, capital expenditures and the
Company´s or management´s beliefs, expectations or opinions, are
forward-looking statements. Actual results may differ materially from
those statements as a result of factors, risks and uncertainties over
which the Company has no control. Such factors, risks, and
uncertainties are more fully discussed in the Company´s Report on Form
10-K filed with the Securities and Exchange Commission on March 1,
2007, as well as periodic reports filed with the Commission.
