UPDATE 1-Superior Essex to buy Nexans' magnet wire operations

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Jan 30 (Reuters) - Superior Essex Inc. SPSX.O said it agreed to acquire French cable maker Nexans' (NEXS.PA) magnet wire operations in China and Canada for about $25 million to $30 million in cash, plus $10 million in debt.

The acquisitions, which include Nexans' 80 percent stake in Tianjin Magnet Wire and Cables Co. and the operating assets of Simcoe Canada magnet wire busines, will help boost Superior's presence in the continuous transformed cable (CTC) products segment, the company said.

The company said the combined operations had total revenues of about $150 million for fiscal 2006.

"We believe CTC market demand will continue to be strong, driven by the growing investment by public utilities in the power grid," Chief Executive Stephen Carter said in a statement.

Separately, Superior Essex, a wire and cable maker, said its fourth-quarter adjusted earnings will be flat, compared with its year-ago quarter, due to higher non-cash charges and weighted average share count.

The company forecast revenue of about $670 million for the period.

Superior Essex forecast a higher sequential decline of 15 percent in core copper-adjusted revenue than previously expected due to a substantial slowdown in demand from telephone company customers.

Analysts on average were expecting a profit of 44 cents a share, before items, and revenue of $699.1 million for the fourth quarter, according to Reuters Estimates. (Reporting by Anant Vijay Kala in Bangalore)