SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549


                                    FORM 10-Q
(Mark One)
 [X]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
      EXCHANGE ACT OF 1934

For the quarterly period ended              March 31, 1998
                               -------------------------------------------------
                                       OR

 [ ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
      EXCHANGE ACT OF 1934

For the transition period from                        to
                               ----------------------    -----------------------

                                    33-93970
                            (Commission File Number)

                         International Wire Group, Inc.
             (Exact name of Registrant as specified in its charter)

                                    Delaware
         (State or other jurisdiction of incorporation or organization)

                                   43-1705942
                      (I.R.S. Employer Identification No.)

                              101 South Hanley Road
                               St. Louis, MO 63105
                                 (314) 719-1000
          (Address,  including zip code,  and telephone  number,  including area
             code, of Registrant's principal executive offices)


Indicate by check mark whether the Registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  Registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days.

                                 YES [X] NO [ ]

Indicate the number of shares  outstanding  of each of the  issuer's  classes of
common stock, as of the latest practicable date:

                                    Outstanding at
           Class                    April 30, 1998
  --------------------------        --------------
  Common Stock                          1,000


<PAGE>


                         INTERNATIONAL WIRE GROUP, INC.




                                      INDEX

PART I - FINANCIAL INFORMATION                                              Page

  International Wire Group, Inc.
     Condensed Consolidated Balance Sheets as of March 31, 1998 and            3
        December 31, 1997.................................................
     Condensed Consolidated Statements of Operations for the three
        months ended March 31, 1998 and March 31, 1997....................     4
     Condensed Consolidated Statements of Cash Flows for the three
        months ended March 31, 1998 and March 31, 1997....................     5
    Notes to Condensed Consolidated Financial Statements..................     6
     Management's Discussion and Analysis of Financial Condition and
        Results of Operations.............................................    13

PART II - OTHER INFORMATION..............................................     15

SIGNATURES...............................................................     16



<PAGE>


                         INTERNATIONAL WIRE GROUP, INC.
                      CONDENSED CONSOLIDATED BALANCE SHEETS
                        (In thousands, except share data)

<TABLE>
<CAPTION>

                                                    March 31,     December 31,
                                                 -------------------------------
                                                      1998           1997
                                                 -------------------------------
ASSETS                                            (Unaudited)

<S>                                                <C>          <C>
Current assets:
  Cash and cash equivalents ....................   $   9,066    $       0
  Accounts receivable, less allowance of $2,018
    and $2,078, respectively ...................      94,500       87,201
  Inventories ..................................      62,974       74,406
  Other current assets .........................      24,300       27,273
                                                   ---------    ---------
    Total current assets .......................     190,840      188,880
Property, plant and equipment, net .............     167,548      165,239
Intangible and other assets ....................     271,438      273,929
                                                   ---------    ---------
    Total assets ...............................   $ 629,826    $ 628,048
                                                   =========    =========

LIABILITIES AND STOCKHOLDER'S EQUITY (DEFICIT)

Current liabilities:
  Current maturities of long-term obligations ..   $   4,472    $   4,493
  Accounts payable .............................      39,119       48,761
  Accrued and other liabilities ................      59,745       59,121
  Accrued interest .............................      14,001        4,834
                                                   ---------    ---------
    Total current liabilities ..................     117,337      117,209
Long-term obligations, less current maturities .     517,012      519,302
Other long-term liabilities ....................      37,275       37,365
                                                   ---------    ---------
    Total liabilities ..........................     671,624      673,876

Stockholder's equity (deficit):
  Common stock, $.01 par value, 1,000 shares
    authorized, issued and outstanding .........           0            0
  Contributed capital ..........................     113,831      113,717
  Carryover of predecessor basis ...............     (67,762)     (67,762)
  Accumulated deficit ..........................     (87,867)     (91,783)
                                                   ---------    ---------
    Total stockholder's equity (deficit) .......     (41,798)     (45,828)
                                                   ---------    ---------
    Total liabilities and stockholder's
      equity (deficit)..........................   $ 629,826    $ 628,048
                                                   =========    =========
</TABLE>





    See accompanying notes to the condensed consolidated financial statements





<PAGE>


                         INTERNATIONAL WIRE GROUP, INC.
                 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                                 (In thousands)
                                   (Unaudited)

<TABLE>
<CAPTION>

                                                     Three Months
                                                        Ended
                                                       March 31,
                                              ----------------------------
                                                    1998          1997
                                              ----------------------------

<S>                                             <C>          <C>
Net sales ...................................   $ 174,006    $ 176,153
Operating expenses:
  Cost of goods sold.........................     128,796      137,913
  Selling, general and
administrative ..............................      15,469       13,308
expenses
  Depreciation and amortization..............       9,067        7,511
  Plant closing charges .....................        --            500
Operating income.............................      20,674       16,921
                                                ---------    ---------
Other income (expense):
  Interest expense...........................     (13,043)     (12,011)
  Amortization of deferred financing costs...        (953)        (995)

  Other, net ................................           4           11
                                                ---------    ---------
Income before income tax provision...........       6,682        3,926
Income tax provision ........................       2,766        1,630
                                                ---------    ---------
Net income ..................................   $   3,916    $   2,296
                                                =========    =========
</TABLE>



         See accompanying notes to the condensed consolidated financial
                                   statements



<PAGE>


                         INTERNATIONAL WIRE GROUP, INC.
                 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                 (In thousands)
                                   (Unaudited)

<TABLE>
<CAPTION>

                                                          Three Months
                                                              Ended
                                                            March 31,
                                                --------------------------------
                                                    1998              1997
                                                --------------------------------
<S>                                             <C>              <C>

Cash flows provided by (used in) operating activities:
  Net income................................... $     3,916      $     2,296
  Adjustments to reconcile net income to
    net cash provided by (used in) operating
    activities:
    Depreciation and amortization..............      10,020            8,506
    Change in assets and liabilities, net of
      Acquisitions:
      Accounts receivable......................      (7,299)         (19,379)
      Inventories..............................      11,432           12,958
      Other assets.............................       1,553           (1,159)
      Accounts payable.........................      (9,642)         (14,655)
      Accrued and other liabilities............         624            1,963
      Accrued interest.........................       9,167            5,001
      Other long-term liabilities..............         (90)            (139)
                                                 ----------       ----------
Net cash provided by (used in) operating
  Activities...................................      19,681           (4,608)
                                                 ----------       ----------
Cash flows used in investing activities:
  Acquisitions, net of cash....................          --          (58,996)
  Capital expenditures.........................      (8,304)          (3,038)
                                                 ----------       ----------
Net cash used in investing activities..........      (8,304)         (62,034)
                                                 ----------       ----------
Cash flows provided by (used in) financing
  activities:
  Proceeds from issuance of long-term
    obligations................................          --           65,000
  Borrowing (repayment) of long-term
    obligations................................      (2,311)          10,095
  Cash dividends paid on preferred stock.......          --           (1,378)
  Financing fees and other.....................          --           (3,250)
                                                 ----------       ----------
Net cash provided by (used in) financing
  activities...................................      (2,311)          70,467
                                                 ----------       ----------
Net change in cash and cash equivalents........       9,066            3,825
Cash at beginning of the period................          --               --
                                                 ----------       ----------
Cash at end of the period...................... $     9,066      $     3,825
                                                 ==========       ==========
</TABLE>





    See accompanying notes to the condensed consolidated financial statements


<PAGE>


                         INTERNATIONAL WIRE GROUP, INC.
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                 (In thousands)
                                   (Unaudited)

1.   Basis of Presentation

     Unaudited Interim Condensed Consolidated Financial Statements

     The unaudited interim condensed  consolidated  financial statements reflect
     all adjustments  consisting only of normal recurring adjustments which are,
     in the opinion of  management,  necessary  for a fair  presentation  of the
     financial  position and results of operations  of the Company.  The results
     for the three months ended March 31, 1998 are not necessarily indicative of
     the results that may be expected for a full fiscal  year.  These  financial
     statements  should be read in  conjunction  with the  audited  consolidated
     financial  statements  and notes thereto  included in the Company's  Annual
     Report on Form 10-K filed with the Securities  and Exchange  Commission for
     the year ended December 31, 1997.

     Recently Issued Accounting Standards

     In April 1998,  the Financial  Accounting  Standards  Board (FASB)  adopted
     Statement  of  Position  (SOP)  98-5,  "Reporting  on the Costs of Start-Up
     Activities,"  which requires costs of start-up  activities and organization
     costs to be expensed  as  incurred.  SOP 98-5 is  effective  for  financial
     statements for fiscal years  beginning after December 15, 1998. The Company
     will adopt SOP 98-5 in fiscal 1999.

     In June 1997, the FASB adopted Statement of Financial  Accounting Standards
     (SFAS) No. 131,  "Disclosures  about  Segments of an Enterprise and Related
     Information,"  which  requires  that a public  business  enterprise  report
     financial  and  descriptive   information  about  its  reportable  business
     segments.  SFAS 131 is effective for fiscal years  beginning after December
     15, 1997, and does not apply to interim financial statements in the year of
     adoption.  The  Company  will adopt SFAS No. 131 for the fiscal  year ended
     December 31, 1998.

     In February  1998, the FASB adopted SFAS No. 132,  "Employer's  Disclosures
     about  Pensions  and  Other  Postretirement  Benefits,"  which  establishes
     reporting   requirements   related  to  a  business'   pensions  and  other
     postretirement  benefits.  SFAS  No.  132 is  effective  for  fiscal  years
     beginning after December 15, 1997, and does not apply to interim  financial
     statements in the year of adoption. The Company will adopt SFAS No. 132 for
     the fiscal year ended December 31, 1998.

     The Company  believes that the future adoption of these statements will not
     have a  significant  impact  on the  results  of  operations  or  financial
     position  of the Company  but will  require the Company to make  additional
     disclosures.

2.   Inventories

     The composition of inventories at March 31, 1998 is as follows:


       Raw materials............................................. $   25,057
       Work-in-process ..........................................     11,604
       Finished goods ...........................................     26,313
                                                                  ----------
        Total.................................................... $   62,974
                                                                  ==========

<PAGE>

                         INTERNATIONAL WIRE GROUP, INC.
       NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (continued)



3.   Long-Term Obligations

     The composition of long-term obligations at March 31, 1998 is as follows:

       Amended and Restated Credit Agreement:
         Revolving credit facility............................... $       --
         Term facility ..........................................    182,875
       Senior Subordinated Notes.................................    150,000
       Series B Senior Subordinated Notes........................    150,000
       Series B Senior Subordinated Notes Premium................     12,198
       Industrial revenue bonds..................................     15,500
       Other.....................................................     10,911
                                                                  ----------
                                                                     521,484
       Less, current maturities..................................      4,472
                                                                  ----------
                                                                  $  517,012
                                                                  ==========


     The schedule of principal payments (excluding  amortization of premium) for
     long-term obligations at March 31, 1998 is as follows:


       1998...................................................... $   3,409
       1999......................................................     5,940
       2000......................................................     7,262
       2001......................................................     8,138
       2002......................................................    46,532
       Thereafter................................................   438,005
                                                                  ---------
         Total................................................... $ 509,286
                                                                  =========


     The  Amended and  Restated  Credit  Agreement  contains  several  financial
     covenants  which,  among  other  things,  require  the  Company to maintain
     certain  financial  ratios  and  restrict  the  Company's  ability to incur
     indebtedness, make capital expenditures and pay dividends.

     The Company's 11 3/4% Senior  Subordinated  Notes,  11 3/4% Series B Senior
     Subordinated  Notes,  and 14% Senior  Subordinated  Notes ("Senior  Notes")
     restrict,  among other things, the incurrence of additional indebtedness by
     the Company, the payment of dividends and other distributions in respect of
     the Company's  capital stock, the imposition of restrictions on the payment
     of dividends and other  distributions  by the Company's  subsidiaries,  the
     creation of liens on the properties and the assets of the Company to secure
     certain  subordinated  debt  and  certain  mergers,  sales  of  assets  and
     transactions with affiliates.


<PAGE>


                         INTERNATIONAL WIRE GROUP, INC.
       NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (continued)



4.   Plant Closing Expense

     A summary of activity related to plant closings is as follows:

                                                      Three        Three
                                                   Months Ended Months Ended
                                                    March 31,    March 31,
                                                   --------------------------
                                                       1998         1997
                                                   --------------------------

       Balance, beginning of period..............  $  1,445     $  2,462
       Charges to operations:
         Facility shut-down costs................        --          375
         Lease commitments.......................        --           --
         Key personnel and severance costs.......        --          125
                                                   --------     --------
                                                         --          500
                                                   --------     --------
       Costs incurred:
         Facility shut-down costs................       (43)        (317)
         Lease commitments.......................      (236)         (57)
         Key personnel and severance costs.......       (36)        (118)
                                                   --------     --------
                                                       (315)        (492)
                                                   --------     --------
       Balance, end of period....................  $  1,130     $  2,470
                                                   ========     ========

5.   Subsequent Event

     On April 1, 1998, the Company  acquired  certain assets and assumed certain
     liabilities  of  Spargo  Wire  Company,  Inc.  ("Spargo  Wire"),  a  former
     competitor  of the Company in the wire market  segment.  Spargo Wire was in
     the business of fabricating  copper and tin wire products for  distribution
     in the northeastern and midwestern United States.

6.   Guarantor Subsidiaries

     The  Company's  Senior  Notes  are fully  and  unconditionally  (as well as
     jointly and  severally)  guaranteed  on an unsecured,  senior  subordinated
     basis by each  subsidiary  of the Company  (the  "Guarantor  Subsidiaries")
     other  than  Electro  Componentes  de  Mexico,  S.A.  de  C.V.,   Wirekraft
     Industries de Mexico, S.A. de C.V. and  IWG-Philippines,  Incorporated (the
     "Non-Guarantor  Subsidiaries").  Each  of the  Guarantor  Subsidiaries  and
     Non-Guaranantor Subsidiaries is wholly owned by the Company.

     The following condensed  consolidating  financial statements of the Company
     include the accounts of the Company, the combined accounts of the Guarantor
     Subsidiaries and the combined accounts of the  Non-Guarantor  Subsidiaries.
     Given the size of the Non-Guarantor Subsidiaries relative to the Company on
     a  consolidated  basis,  separate  financial  statements of the  respective
     Guarantor  Subsidiaries are not presented because management has determined
     that  such   information   is  not  material  in  assessing  the  Guarantor
     Subsidiaries.



<PAGE>


                         INTERNATIONAL WIRE GROUP, INC.
       NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (continued)

<TABLE>
<CAPTION>

                                                                TOTAL
                                                   TOTAL        NON-
                                    COMPANY      GUARANTOR    GUARANTOR  ELIMINATIONS    TOTAL
                                ----------------------------------------------------------------
BALANCE SHEET AS OF MARCH 31, 1998
<S>                                 <C>          <C>          <C>         <C>         <C>

ASSETS
   Cash and cash equivalents ....   $    --      $   8,205    $     861   $    --     $   9,066
   Accounts receivable ..........        --         93,930          570        --        94,500
   Inventories ..................        --         62,666          308        --        62,974
   Other assets .................        --         23,976          324        --        24,300
                                    ---------    ---------   ---------    ---------   ---------
       Total current assets .....        --        188,777        2,063        --       190,840
   Property, plant and
     equipment, net .............        --        149,068       18,480        --       167,548
   Investment in subsidiaries ...     610,400         --           --      (610,400)       --
   Intangible and other assets ..      22,639      246,688        2,111        --       271,438
                                    ---------    ---------    ---------   ---------   ---------
       Total assets .............   $ 633,039    $ 584,533    $  22,654   $(610,400)  $ 629,826
                                    =========    =========    =========   =========   =========

LIABILITIES AND STOCKHOLDER'S
EQUITY (DEFICIT)

   Current liabilities ..........   $  24,702    $  89,312    $   3,323   $    --     $ 117,337
   Long-term obligations, less
     current maturities .........     500,707       16,305         --          --       517,012
   Other long-term liabilities ..        --         37,275         --          --        37,275
   Intercompany (receivable)
     payable ....................      81,666      (98,184)      16,518        --          --
                                    ---------    ---------    ---------   ---------   ---------
       Total liabilities ........     607,075       44,708       19,841        --       671,624
   Stockholder's equity (deficit)
     Common stock ...............           0            0            0           0           0
     Contributed capital ........     113,831      571,892          138    (572,030)    113,831
     Carryover of predecessor
       basis ....................        --        (67,762)        --          --       (67,762)
     Retained earnings
       (accumulated deficit) ....     (87,867)      35,695        2,675     (38,370)    (87,867)
                                    ---------    ---------    ---------   ---------   ---------
       Total stockholder's
         equity (deficit) .......      25,964      539,825        2,813    (610,400)    (41,798)
                                    ---------    ---------    ---------   ---------   ---------
       Total liabilities and
         stockholder's equity
           (deficit) ............   $ 633,039    $ 584,533    $  22,654   $(610,400)  $ 629,826
                                    =========    =========    =========   =========   =========
</TABLE>




<PAGE>



                            INTERNATIONAL WIRE GROUP, INC.
          NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (continued)

<TABLE>
<CAPTION>

                                                                TOTAL
                                                   TOTAL        NON-
                                    COMPANY      GUARANTOR    GUARANTOR  ELIMINATIONS    TOTAL
                                ----------------------------------------------------------------
BALANCE SHEET AS OF DECEMBER 31, 1997
<S>                                 <C>        <C>            <C>         <C>          <C>

ASSETS
   Cash and cash equivalents ....   $    --    $      (226)   $     226   $    --      $    --
   Accounts receivable ..........        --         86,521          680        --         87,201
   Inventories ..................        --         74,406         --          --         74,406
   Other assets .................        --         27,273         --          --         27,273
                                    ---------  -----------    ---------   ---------    ---------
       Total current assets .....        --        187,974          906        --        188,880
   Property, plant and
     equipment, net .............        --        150,443       14,796        --        165,239
   Investment in subsidiaries ...     592,643         --           --      (592,643)        --
   Intangible and other assets ..      23,592      248,299        2,038        --        273,929
                                    ---------  -----------    ---------   ---------    ---------
       Total assets .............   $ 616,235  $   586,716    $  17,740   $(592,643)   $ 628,048
                                    =========  ===========    =========   =========    =========

LIABILITIES AND STOCKHOLDER'S
  EQUITY (DEFICIT)

   Current liabilities ..........   $   8,334  $   106,623    $   2,252   $    --      $ 117,209
   Long-term obligations, less
     current maturities .........     498,014       21,288         --          --        519,302
   Other long-term liabilities ..        --         37,365         --          --         37,365
   Intercompany (receivable)
     payable ....................      87,953      (97,774)       9,821        --           --
                                     --------   ----------     --------   ---------    ---------
       Total liabilities ........     594,301       67,502       12,073        --        673,876
   Stockholder's equity (deficit)
     Common stock ...............           0            0            0           0            0
     Contributed capital ........     113,717      572,012          138    (572,150)     113,717
     Carryover of predecessor
       basis ....................        --        (67,762)        --          --        (67,762)
     Retained earnings
       (accumulated deficit).....     (91,783)      14,964        5,529     (20,493)     (91,783)
                                     --------   ----------     --------   ---------    ---------
      Total stockholder's
       equity (deficit) .........      21,934      519,214        5,667    (592,643)     (45,828)
                                     --------   ----------     --------   ---------    ---------
      Total liabilities and
        stockholder's equity
         (deficit) ..............   $ 616,235    $ 586,716     $ 17,740   $(592,643)   $ 628,048
                                     ========   ==========     ========   =========    =========
</TABLE>


<PAGE>

                            INTERNATIONAL WIRE GROUP, INC.
          NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (continued)

<TABLE>
<CAPTION>
                                                                TOTAL
                                                   TOTAL        NON-
                                    COMPANY      GUARANTOR    GUARANTOR  ELIMINATIONS    TOTAL
                                ----------------------------------------------------------------
STATEMENT OF OPERATIONS FOR
  THE THREE MONTHS ENDED MARCH 31, 1998

<S>                                <C>          <C>          <C>          <C>          <C>
Net sales ......................   $    --      $ 174,006    $   5,882    $  (5,882)   $ 174,006

Operating expenses
   Cost of goods sold ..........        --        130,249        4,429       (5,882)     128,796
   Selling, general
and ............................        --         12,190        3,279         --         15,469
administrative expenses
   Depreciation and amortization        --          8,251          816         --          9,067
                                   ---------    ---------    ---------    ---------    ---------
Operating income (loss) ........        --         23,316       (2,642)        --         20,674

Other income (expense):
   Interest expense ............     (13,008)         (35)        --           --        (13,043)
   Amortization of deferred
     financing costs ...........        (953)        --           --           --           (953)
   Equity in net income (loss)
     of subsidiaries ...........      17,877         --           --        (17,877)        --
   Other, net ..................        --              4         --           --              4
                                   ---------    ---------    ---------    ---------    ---------
Income (loss) before income tax
  provision ....................       3,916       23,285       (2,642)     (17,877)       6,682
                                   ---------    ---------    ---------    ---------    ---------
Income tax provision ...........        --          2,554          212         --          2,766
                                   ---------    ---------    ---------    ---------    ---------
Net income (loss) ..............   $   3,916    $  20,731    $  (2,854)   $ (17,877)   $   3,916
                                   =========    =========    =========    =========    =========
</TABLE>


<TABLE>
<CAPTION>
                                                                TOTAL
                                                   TOTAL        NON-
                                    COMPANY      GUARANTOR    GUARANTOR  ELIMINATIONS    TOTAL
                                ----------------------------------------------------------------
STATEMENT OF OPERATIONS
  FOR THE THREE MONTHS ENDED MARCH 31, 1997

<S>                                <C>          <C>       <C>            <C>          <C>
Net sales ......................   $    --      $ 176,153 $     8,566    $  (8,566)   $ 176,153

Operating expenses
  Cost of goods sold ...........   $    --        142,833       3,646       (8,566)     137,913
  Selling, general and
    administrative expenses ....        --         10,286       3,022         --         13,308
  Depreciation and amortization         --          7,077         434         --          7,511
  Expenses related to plant
    closings ...................        --            500        --           --            500
                                   ---------    ---------   ---------    ---------    ---------
Operating income (loss) ........        --         15,457       1,464         --         16,921

Other income (expense):
  Interest expense .............     (12,011)        --          --           --        (12,011)
  Amortization of deferred
    financing costs ............        (995)        --          --           --           (995)
  Equity in net income (loss) of
    subsidiaries ...............      15,302         --          --        (15,302)        --
  Other ........................        --             14          (3)        --             11
                                   ---------    ---------   ---------    ---------    ---------
Income (loss) before income tax
  provision ....................       2,296       15,471       1,461      (15,302)       3,926
Income tax provision ...........        --          1,499         131         --          1,630
                                   ---------    ---------   ---------    ---------    ---------

Net income (loss) ..............   $   2,296    $  13,972   $   1,330    $ (15,302)   $   2,296
                                   =========    =========   =========    =========    =========

</TABLE>

<PAGE>


                            INTERNATIONAL WIRE GROUP, INC.
          NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (continued)

<TABLE>
<CAPTION>

                                                                TOTAL
                                                   TOTAL        NON-
                                    COMPANY      GUARANTOR    GUARANTOR  ELIMINATIONS    TOTAL
                                ----------------------------------------------------------------
STATEMENT OF CASH FLOWS
  FOR THE THREE MONTHS ENDED
  MARCH 31, 1998
<S>                              <C>             <C>           <C>        <C>          <C>
Net cash from operating
  activities .................   $ (2,693)       $ 17,983      $  4,391   $   --       $ 19,681
Net cash used in investing
  activities for capital
  expenditures ...............        --           (4,548)       (3,756)      --         (8,304)
Net cash provided by (used in)
  financing activities related
  net repayment of long-term
  obligations ................      2,693          (5,004)          --        --         (2,311)
                                 --------        --------      --------    -------     --------
Net change in cash and cash
  equivalents ................   $    --         $  8,431      $    635    $  --       $  9,066
                                 ========        ========      ========    =======     ========
</TABLE>



<TABLE>
<CAPTION>

                                                                TOTAL
                                                   TOTAL        NON-
                                    COMPANY      GUARANTOR    GUARANTOR  ELIMINATIONS    TOTAL
                                ----------------------------------------------------------------
STATEMENT OF CASH FLOWS
  FOR THE THREE MONTHS ENDED
  MARCH 31, 1997
<S>                                 <C>           <C>         <C>         <C>         <C>
Net cash from operating
  activities..................      $(53,956)     $  47,301   $  2,047    $     --    $ (4,608)
                                    --------      ---------   --------    ---------   --------
Cash flows by used in investing activities:
    Acquisition, net of cash..        --            (58,996)       --           --     (58,996)
    Capital expenditures......        --             (2,402)      (636)         --      (3,038)
                                    --------      ---------   --------    ---------   --------
Net cash used in investing
  activities..................          --          (61,398)      (636)         --     (62,034)
                                    --------      ---------   --------    ---------   --------
Cash flows provided by (used in) financing activities:
    Proceeds from issuance of
      long-term obligations...        48,489         16,511        --           --      65,000
    Repayment of long-term
obligations...................        10,095            --         --           --      10,095
    Cash dividends paid on
      preferred stock.........        (1,378)           --         --           --      (1,378)
    Financing fees and other..        (3,250)           --         --           --      (3,250)
                                    --------      ---------   --------    ---------   --------
Net cash provided by financing
  activities..................        53,956         16,511        --           --      70,467
                                    --------      ---------   --------    ---------   --------
Net change in cash and cash
  equivalents.................      $   --        $   2,414   $  1,411    $     --    $  3,825
                                    ========      =========   ========    =========   ========

</TABLE>


<PAGE>



                     MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                  FINANCIAL CONDITION AND RESULTS OF OPERATIONS

General

The following discussion and analysis includes the results of operations for the
three months  ended March 31, 1998  compared to the three months ended March 31,
1997.

The Company conducts its operations through two segments:  wire products,  which
includes both non-insulated and insulated wire, and wire harness products.


RESULTS OF OPERATIONS

Three Months Ended March 31, 1998 Compared to Three Months Ended March 31, 1997

Net  sales for the three  months  ended  March  31,  1998 were  $174.0  million,
representing a $2.2 million,  or 1.2%, decrease compared to the first quarter of
1997.  Increases  in unit volume in both  segments  along with the full  quarter
sales of the Company's Camden Wire subsidiary  (acquired in the first quarter of
1997) were offset by the impact of a decrease  in the  average  cost and selling
price of copper.  In general,  the Company prices its wire products based upon a
spread over the cost of copper,  which  results in a decreased  dollar  value of
sales when copper costs decrease. The average price of copper based upon the New
York Mercantile Exchange,  Inc. ("COMEX") decreased to $.77 per pound during the
three  months  ended March 31, 1998 from $1.11 per pound during the three months
ended March 31, 1997.

Wire segment  (non-insulated  and insulated  wire) sales were $129.3 million and
decreased  $2.2  million,  or 1.6%,  in the three months ended March 31, 1998 as
compared  to the three  months  ended  March 31,  1997.  The  growth in sales of
non-insulated cable for industrial  customers and increased volume of automotive
lead wire were  offset by the impact of the  decrease  in the  average  cost and
selling  price of copper.  Within  the wire  harness  segment,  sales were $44.7
million for each of the  quarters  ended March 31, 1998 and March 31,  1997,  as
increased  appliance  harness  sales  were  offset by the  effect of a  non-core
product line discontinued in September 1997.

Cost of goods sold as a percentage of sales  decreased  from 78.3% for the three
months  ended March 31, 1997 to 74.0% for the three months ended March 31, 1998.
This improvement  reflected  synergies  related to the Camden Wire  acquisition,
savings realized from previous plant consolidations,  lower current period costs
achieved  through the  transition  of certain wire harness  segment  business to
lower-cost  Mexican  facilities  as well as the impact of lower  copper  prices.
Because the Company's products are typically priced at a spread over the cost of
copper,  lower copper costs and prices lead to a higher gross margin  percentage
but generally have no impact on gross margin dollars.

Selling,  general and  administrative  expenses were $15.5 million for the three
months  ended  March 31, 1998  compared to $13.3  million for the same period in
1997. This $2.2 million increase primarily reflected the addition of Camden Wire
for a full quarter, volume related items and cost inflation.

Depreciation  and amortization was $9.1 million for the three months ended March
31, 1998  compared to $7.5 million for the same period in 1997.  The increase of
$1.6 million was primarily  the result of  depreciation  of property,  plant and
equipment additions.


<PAGE>

In the first  quarter of 1997, a $.5 million  pre-tax  plant  closing  charge to
operations  was  recorded.  The plant  closing  costs  related to  consolidation
efforts within the wire segment.  During the first quarter of 1998, there was no
similar charge.


LIQUIDITY AND CAPITAL RESOURCES

Net cash provided by operating activities was $19.7 million for the three months
ended March 31, 1998, compared to net cash used in operating  activities of $4.6
million for the three months ended March 31, 1997. The fluctuation was primarily
due to the increase in net income and an improved working capital position.

Net cash used in  investing  activities  was $8.3  million for the three  months
ended March 31, 1998 which represented  capital  expenditures.  Net cash used in
investing  activities  was $62.0  million for the three  months  ended March 31,
1997, and  represented  (i)  acquisition  costs of $59.0 million  related to the
Camden Acquisition and (ii) capital expenditures of $3.0 million.

Net cash used in  financing  activities  was $2.3  million for the three  months
ended March 31, 1998 and represented net repayments under the debt  obligations.
Net cash provided by financing activities was $70.5 million for the three months
ended  March 31,  1997 and  included  (i)  proceeds  of $65.0  million  from the
issuance of long-term  obligations,  (ii) net  borrowings of $10.1 million under
the  existing  debt  obligations,  (iii)  payments  of $3.3  million  related to
financing fees and (iv) cash  dividends of $1.4 million  related to the Series A
Cumulative  Exchangeable  Redeemable Preferred Stock which the Company exchanged
for debt in 1997.

The Company's ability to fund its liquidity and capital  requirements and to pay
its  indebtedness  is limited to its  ability to  receive  dividends  and other
distributions  from its subsidiaries.  The Company's Amended and Restated Credit
Agreement and its 11 3/4% Senior  Subordinated  Notes due 2005, 11 3/4% Series B
Senior  Subordinated Notes due 2005, and 14% Senior  Subordinated Notes due 2005
prohibit the Company from imposing  certain  restrictions  on the ability of its
subsidiaries to pay dividends or make other distributions to the Company.


<PAGE>


PART II.  OTHER INFORMATION


Item 6.  Exhibits and Reports on Form 8-K.

(a)  Exhibits
     Exhibit 27.1 - Financial Data Schedule

(b)  Reports on Form 8-K
     No reports on Form 8-K have been filed  during the three months ended March
     31, 1998.


<PAGE>


                                   SIGNATURES



Pursuant to the  requirements  of the  Securities  and Exchange Act of 1934, the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.


                                      INTERNATIONAL WIRE GROUP, INC.


Dated:  May 14, 1998                  By:      /s/  DAVID M. SINDELAR
                                      Name:  David M. Sindelar
                                      Title: Senior Vice President and
                                             Chief Financial Officer
                                             (Principal Financial Officer)


                                      By:      /s/ GLENN J. HOLLER
                                      Name:  Glenn J. Holler
                                      Title: Vice President - Finance
                                             (Chief Accounting Officer)


<PAGE>