CDT Sells NORCOM Assets to Belden Subsidiaries

On October 31, 2002, Pittsburgh-based Cable Design Technologies Corporation (CDT), sold substantially all of the assets of its NORCOM wire and cable business in Kingston, Ontario, to St. Louis, Missouri-based Belden Inc. subsidiaries. The purchase price was US$11.3 million and the assumption of certain liabilities, subject to adjustments for asset values as of the closing date, with additional contingency payments over three years of as much as US$8.1 million depending mainly on Belden’s achievement of future business levels and sales of certain inventory.

Belden was represented by in-house counsel Kevin Bloomfield and Chris Allen, and by Donald Matheson and Farida Merali (corporate), Robert Sallisbury (employment), James Fisher (environmental) and Mark Woolstencroft in Calgary, Cathie Brayley (tax) and Katherine Latimer (real estate) of Gowling Lafeur Henderson LLP.

CDT was represented in-house by vice-president and general counsel, Charles Fromm, and by Jean Farley, Nicolas Beugnot and Claire Zikovsky (corporate), Gary Nachshen (pension), Hélène Bussières (employment), John Dow (real estate) and Larry Cobb (environment) of Stikeman Elliott.