 HOUSTON, Jan. 13, 2021 GLOBE NEWSWIRE -- Houston Wire Cable Company Nasdaq: HWCC today announced that it has entered into a definitive asset purchase agreement for the sale of its Southwest Wire Rope business, a leading provider of lifting slings and wire rope and rigging products, for a purchase price of 5 million, subject to a working capital adjustment. The sale excludes approximately 2.6 million of trade accounts receivable, which HWCC will retain. HWCC expects to use the net sales proceeds and accounts receivable collections to further reduce Revolver debt. HWCC has already reduced Revolver debt to approximately 21.4 million as of January 13, 2021, from a peak of 95.2 million in the first quarter of 2020. 