EXHIBIT 10.2


                                    GUARANTY
                                       BY
                             THE ALPINE GROUP, INC.

      (All  capitalized  terms  appearing  in the  Guaranty  below  that are not
otherwise  defined in such Guaranty shall have the meanings  assigned to them in
the Asset Purchase  Agreement  between Southwire Company and Essex Electric Inc.
to which this Guaranty is attached (the "Agreement")).

      For good and valuable consideration  (including the execution and delivery
by  Southwire  Company of the  Agreement  concurrently  herewith),  the receipt,
adequacy and  sufficiency of which are hereby  acknowledged by The Alpine Group,
Inc.,  a Delaware  corporation  ("Alpine"),  Alpine  agrees with and in favor of
Buyer as follows:

            (a) Alpine  has the power and  authority  to  execute,  deliver  and
perform this  Guaranty.  The  execution,  delivery and the  performance  of this
Guaranty have been duly authorized by all requisite  corporate  action necessary
on the part of  Alpine,  and  this  Guaranty  constitutes  a valid  and  binding
obligation of Alpine,  enforceable  against Alpine in accordance with its terms.
The  performance by Alpine of its  obligations  hereunder  will not violate,  or
constitute a breach of or a default under, Alpine's Certificate of Incorporation
or Bylaws or any Contract to which Alpine is a party or any Law or Order binding
upon Alpine.

            (b)  Alpine  hereby  absolutely,   unconditionally  and  irrevocably
guarantees  the  full  payment  and  performance  as and  when due of all of the
Seller's  obligations  under or  pursuant  to  Section  5.11  (Other  Offers and
Exclusive  Dealing) and Section 8.8 (Post-Closing  Maintenance of Cash, Etc.) of
the  Agreement  (all  such  obligations  are  hereinafter  referred  to  as  the
"Obligations").  This Guaranty may be enforced by Buyer directly  against Alpine
without any requirement  that Buyer first bring suit against Seller or any other
Person or resort to or exhaust any other guaranty or collateral now or hereafter
pledged to Buyer. Alpine acknowledges and agrees that no change in the nature or
terms of the  Agreement  or the  Obligations,  whether  by  operation  of Law or
otherwise,  shall  operate to discharge all or any part of the  liabilities  and
obligations of Alpine  pursuant to this  Guaranty,  unless  otherwise  agreed by
Buyer. This Guaranty constitutes a guarantee of payment and not of collection or
performance  and no forbearance or indulgence  granted by Buyer to Seller and no
waiver of any right to proceed  promptly  against  Seller  (whether  or not such
action or failure to act varies or increases  the risk of, or affects the rights
or  remedies  of,  Alpine)  shall  operate  to  release  Alpine  from any of its
liabilities or  obligations  hereunder.  Without  limiting the generality of the
foregoing,  Alpine  agrees that no  extension of time or  indulgence  granted by
Buyer to Seller will in any manner affect, impair, limit, modify, or release any
of the liabilities or obligations of Alpine under this Guaranty.

            (c)  Alpine  expressly  waives:  (i)  notice of  acceptance  of this
Guaranty,  (ii) notice of any  modification of the Agreement or the Obligations,
and (iii) presentment,  protest, notice of dishonor,  demand for payment, notice
of  extension  of  time of  payment,  notice  of  non-payment  when  due of such
Obligations and notice of indulgences granted to Seller by Buyer.


            (d)  Alpine  agrees  that  its  liability  under  this  Guaranty  is
continuing  and shall only be discharged by the full  performance  of all of the
Obligations;  provided, however, this Guaranty shall terminate concurrently with
the expiration of the requirement to perform the acts underlying the Obligations
in accordance  with their  respective  terms. At Alpine's  request,  Buyer shall
deliver to Alpine a confirmatory letter  acknowledging that any such termination
has occurred.

            (e) This Guaranty  shall be binding upon Alpine and its  successors,
and assigns and shall inure to the benefit of, and be enforceable  by, Buyer and
its successors and assigns. This Guaranty shall be governed by, and construed in
accordance with, the substantive  laws of the State of Delaware,  without regard
to such state's laws related to choice or conflicts of laws.

                                            THE ALPINE GROUP, INC.


                                            By: /s/ K. Mitchell Posner
                                                --------------------------------
                                                Name:  K. Mitchell Posner
                                                Title: Executive Vice President