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TWST: Please begin with a brief historical sketch of the company and a picture
of the things you are doing presently.
Mr. Bilban: The company was founded in 1989 by Vincent Rego and Don Spurgin.
They were veterans of Capital Wire in Plano, Texas. They sold it to Penn
Central, which owned General Cable in 1988. They moved in 1989, 15 miles up the
road to McKinney, and they started Encore Wire. At that time they did only
residential wire. By 1992, they did an IPO and by 1994 they did a secondary
offering in the stock market to enable them to get the capital to get into the
commercial wire business. It's been a great ride up. We made our first shipment
in 1990 and since that time, after buying an old building that had 68,000 square
feet, we have over 1.2 million square feet under roof on over 110 acres of land.
We have 700 plus employees, and in the last two years we have done $1.2 billion
in revenue and we are the number two copper electric building wire manufacturer
in the United States. TWST: I understand that you now do about two-thirds commercial, and one-third
residential.
Mr. Bilban: Yes. That varies a little as you can imagine with the different
cycles in the industry. A couple of years ago, when housing was hot we were
above 40% residential, today we are about 70% to 75% commercial.
Tickers included in this excerpt: WIRE
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