NA CEO A. Pirondini: "The Entity Merger and Brand Integration with General Cable will Further Strengthen our Capabilities to Better Support our Customers and the Market as a Unique Well-Integrated Organization"
Prysmian Group is Strongly Positioned to Enable the Energy Transition and Digital Transformation in North America
HIGHLAND HEIGHTS, KY / ACCESSWIRE / December 21, 2021 / Prysmian Group, the world leader in the energy and telecom cable systems industry, announces formal entity merger between General Cable Industries, Inc and Prysmian Cables and Systems USA, LLC in the United States. Effective January 1, 2022, all Companies in the region will adapt the legal entities name of Prysmian Group US. The goal of the integration is a rationalization of the all legal entities. Following the acquisition of General Cable Corporation and its subsidiaries by Milan-based Prysmian in 2018, this represents the final steps in the creation of a well-integrated organization under a unique brand in the region with 27 manufacturing facilities, eight distribution centers, six R&D centers, over 5,800 employees and the widest portfolio of products, services and technologies that set the highest standards in the industry.
"Three years after Prysmian Group and General Cable joined forces, we are stronger than ever. By leveraging the technological excellence achieved by both companies in countless markets and business areas, we are proud to offer the most complete portfolio of wire and cable solutions crucial to supporting the energy transition and digital transformation in the U.S.," said Andrea Pirondini, Chief Executive Officer of Prysmian Group North America. "The entity merger and brand integration with General Cable will improve our ability to provide a better experience and to better support our customers and the market as a unique well-integrated organization as we work together to create value for our communities."
Following the recent announcements to invest $100 million over the next two and a half years to boost capacity of its U.S. Power Distribution plants as well as an $85 million investment in major equipment and technology updates to its Telecom plants, Prysmian Group consolidates its position to support the important infrastructure upgrades for a new, clean, and resilient energy grid and to support the broadband infrastructure development and 5G deployment in the region. These investments will upgrade and expand manufacturing capacity, equipment, and technology and reinforce the Group's footprint in the U.S.
Prysmian Group is leading a central role in the energy transition with the award of major transformative projects, including the $730 million Coastal Virginia Offshore Wind project, the largest ever submarine cable contract ever awarded in the U.S., the $200 million Vineyard Wind project, the $900 million SOO Green HVDC link project, and the most recent $900 million offshore wind farm projects in the coast of Massachusetts solidify Prysmian's commitment as the enabler of the transformation that will shape the nation's energy and telecom infrastructure for generations to come.
About Prysmian Group North America:
Prysmian Group is the world leader in the design, manufacture and sales of wire and cable products. Based in Highland Heights, Ky., Prysmian Group North America operations include 27 manufacturing facilities, eight distribution centers, six R&D centers, and over 5,800 employees with net sales of near $4 billion. From wire & cable products and solutions for the transmission and distribution of low, medium, high and extra-high voltage systems, to a cutting-edge offering of optical fiber and copper cables and connectivity systems for voice, video and data transmission, the Group serves the most comprehensive range of markets including power transmission and distribution, telecommunications, construction and infrastructure, energy projects and specialty industries for countless applications in the United States and Canada. Prysmian Group is a public company, listed on the Italian Stock Exchange in the FTSE MIB index. Additional information is available at na.prysmiangroup.com.
Media Relations
David Paredes
Marketing & Communications NA
david.paredes@prysmiangroup.com
Justine David
Mower, on behalf of Prysmian Group
jdavid@mower.com
SOURCE: Prysmian Group
View source version on accesswire.com:
https://www.accesswire.com/678868/Prysmian-Group-Announces-Legal-Entity-Integration-and-Finalizes-Rebranding-with-General-Cable-in-the-United-States
