Thomas & Betts Corp. (T&B), Memphis, Tenn., bought the assets of Southern Monopole and Utilities Co., a subsidiary of the Qualico Steel Co. Inc., for $16 million in cash.
Southern Monopole manufactures steel poles used for electrical transmission and substations, lattice utility towers, cellular communications and lighting.
T&B expects the business to contribute about $20 million in sales in 2005 . Dominic J. Pileggi, T&B president and chief executive, said the company has seen a steady increase in demand for these products in the past year.
The deal includes a manufacturing facility near Gadsden, Ala., which Thomas & Betts will continue to operate.