Prysmian

Introduction

The Prysmian group is a leading developer, designer, manufacturer, supplier and installer of a broad array of cables for applications in the Energy and Telecommunications industries.

The Group is one of the world's largest producers of energy cables in terms of revenues, with a leading position in key high value-added segments such as the submarine, high and extra-high voltage power transmission systems and is one of the world's largest manufacturers in the telecom cables market.

The Group operates on an international basis in Europe (primarily in Italy, France, Spain, the United Kingdom and Germany) and Africa, North America (primarily in the United States and Canada), Central and South America (primarily in Brazil and Argentina) and Asia and Oceania (primarily in China and Australia). 

To this day, Prysmian operates 56 production facilities in 24 countries and employed, as of December, 31 2009, about 12,000 people worldwide.

In the year ended December, 31 2009, the Group generated sales of € 3,731 million, of which € 3,328 million, (89.2%), was generated by its Energy Cables & Systems segment and the remainder primarily by its Telecom Cables & Systems segment, which generated sales of € 403 million.

History

Prysmian was born in 2005 from acquisition of Pirelli & Co‘s Cable and Systems Divisions. Prysmian’ history is connect to Pirelli Group who, in 1879, a few years after the foundation, the activities of Pirelli Cavi e Sistemi commenced.

This business, began producing submarine telegraph cables in 1886 with the opening of a manufacturing facility in La Spezia, Italy. In the next years, Pirelli was expanded in Spain (1902), Great Britain (1914), Argentina (1917) and Brazil (1929), among other countries. In the 1950s, the business opened a submarine cables plant near Naples, Italy, a manufacturing facility in Canada and commenced the production and commercialization of the first energy cables used for the transmission of voltages over 270 kV. In 1982, the business became the first Italian producer of optical fibre when production commenced at its Battipaglia, Italy, plant.

Between 1998 and 2000, four significant acquisitions were completed with the goal of taking advantage of economies of scale, further increasing the size of product portfolio, acquiring know how in certain targeted market segments and entering new geographic markets.

In 2005, founding of Prysmian Cable & Systems: Prysmian, indirectly controlled by The Goldman Sachs Group Inc., signed an agreement to purchase the Energy Cable & systems and Telecom Cable & Systems activities of Pirelli & Co. SpA. Since the acquisition, Prysmian S.r.l.'s management has continued to implement various reorganisation and restructuring initiatives including, among other things, the re-branding of the business, a simplification of its corporate structure and the refinancing of its debt

In May 2007, Prysmian S.p.A. became a listed company on the Milan Stock Exchange in the Blue Chip Segment

In March 2010, Prysmian became the first Italian Public Company consequently at Goldman’s share sell.

Focus:

Prysmian conducts its business through two business segments:

• Energy Cables & Systems:  this segment designs, develops, manufactures, distributes and installs a full range of products and related accessories for the underground and submarine transmission and distribution of energy in the form of low, medium, high and extra-high voltage electricity.  The Energy Cables & Systems segment is divided into three principal business areas:
• Utilities: includes high and extra-high voltage power transmission systems, submarine power systems, low and medium power distribution cables and network components.
• Trade and Installers: includes low and medium voltage insulated cables for the distribution of electricity to residential and commercial buildings.
• Industrial Applications: includes customised products used for various speciality applications by customers in the oil and gas, renewable energies, crane, mining, shipbuilding, railway and rolling stock, appliance, automotive, chemical, electrical equipment and infrastructure sectors, among others.
• Telecom Cables & Systems:  this segment designs, develops, manufactures, distributes and installs fibre-optic cables for voice, data, video and control applications, as well as broadband connectivity components and accessories. Prysmian also manufactures, distributes and installs copper telecom cables.

Prysmian has always placed great strategic importance on Research & Development with a view to providing its customers with innovative solutions at competitive costs. The Group has 7 Research & Development centres around the world, more than 400 skilled professionals and more than 3,000 patents granted or filed.

For more information consulting Prysmian’s website

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