WireCo WorldGroup Revenue and Competitors

WireCo WorldGroup, formerly Wire Rope Corporation of America, Inc. (WRCA), was originally founded in 1931 by J.P. Barclay, Sr. as an offshoot from his company, Wire Machinery Corporation of America. WireCo WorldGroup grew from these roots into the largest wire rope manufacturer in the Western Hemisphere and perhaps the world. The first major move made by WireCo WorldGroup was to relocate to the Midwest which brought it closer to its raw material supplier and provided a logistical hub for manufacturing operations. In the early 60's, WireCo WorldGroup acquired A.H. Leschen & Sons based in St. Louis. After consolidating manufacturing capabilities, the Leschen brand was strongly supported and successfully maintained for many years. With the downturn in oil and gas exploration in 1982, WireCo WorldGroup struggled to find new markets for their products. It was at this time that the company launched a new division selling high carbon wire in various markets. In 1993 this division moved to a new wire mill facility in Chillicothe, MO. In 1988, WireCo WorldGroup acquired the wire rope division of Armco Steel, Union Wire Rope. The Union brand has very strong brand recognition in the oil and mining industry and a corresponding strong market share. Then, in 1998, Rochester Corporation sold their wire rope division to WireCo WorldGroup. Though a smaller factor in the market, they did control several segments of specialty products. A year later, WireCo WorldGroup acquired the wire rope divisions of Amsted Industries - MacWhyte and Broderick & Bascom. By 2001, WireCo WorldGroup limited the use of the Leschen, Rochester and Broderick & Bascom brands and names. In mid 2005, WireCo WorldGroup completed the acquisition of Aceros Camesa, the leading producer of wire rope in Mexico, a major producer of high carbon wire in Mexico and the world's leading independent producer of electromechanical cables for data logging in the oil and gas exploration market. They also sell high carbon wire products into the U.S. market under the Camesa brand. The Camesa brand has been updated and continues to be used in all Mexican operations and in the EMC market worldwide and tied into the WireCo WorldGroup brands. WireCo WorldGroup signed a joint venture agreement with Wuhan Iron and Steel Co. in the summer of 2006 to form a new wire rope manufacturing company in China. WISCO is the third largest steel company in China and one of the largest in the world. The JV will open the largest, most modern wire rope manufacturing facility in the world in the spring of 2008 with the intent of delivering higher quality products to the Chinese and Asian market. In early 2007, WireCo WorldGroup was acquired by Fox Paine (now Paine and Partners, LLC), a private equity firm based in San Francisco. Their goal is to use WireCo WorldGroup as a platform for growth and expansion. Paine and Partners were a catalyst to complete the acquisition of CASAR. CASAR is the world's technical leader in the design and production of special wire ropes. These ropes are used in critical load lifting applications for hoists, cranes and underground mining. Based in Limbach, Germany, CASAR brings with it a strong global brand and access to the European market as well as many other markets worldwide. In October of 2007, along with the name change, we relocated our corporate headquarters 30 miles south of St. Joseph, Missouri to Kansas City. The state of the art facility will serve as our foundation to further expand and coordinate our global pool of talent for many years to come. In November of 2007, WireCo WorldGroup purchased US Reel. They served as a valued and trusted supplier for many years and we hope to grow their business while securing our source of supply for the future. WireCo WorldGroup is dedicated to matching and advancing wire, wire rope and electro-mechanical cables to your dynamic applications throughout the world. With a global manufacturing and distribution base along with our unmatched technical expertise, the world is our worksite.