Nexans announces the business separation of its specialty industrial cable operations, now Lynxeo
_PRESS RELEASE_
- The separation will provide increased clarity in the market, strengthening Lynxeo's role as a fully integrated player, serving a diversified range of critical infrastructure industries including railways, rolling stock, automation, shipbuilding, wind, aerospace and healthcare
- Today's announcement is yet another step in the continued successful execution by Nexans of its Electrify the Future strategy
Paris, November 6, 2024 - Nexans continues to deliver on its Electrify the Future strategy and announces today the business separation of its specialty industrial cable operations formerly Nexans Industry Solutions & Projects now named Lynxeo, part of the Nexans group.
With 2,000 employees in 9 countries and annual standard sales of over 700 million euros, Lynxeo is a powerhouse in specialty industrial cables. The move will allow Lynxeo to further enhance its role in critical industrial segments. With a heritage of than 100 years serving industrial champions, Lynxeo boasts a global manufacturing presence in Europe Asia, and the United States of America.
Lynxeo: a privileged partner for customers facing energy and industrial challenges
Today's business separation provides increased clarity in the market outlook and it is a recognition of the commitment of Lynxeo's employees, as well as their ability to innovate and provide high value-added services. Lynxeo as a strategic partner to its clients will continue to support them with critical application products for the great challenges in fields ranging from rolling stock and railway infrastructure to automation, aerospace, shipbuilding, renewable and non-carbon energies, as well as the healthcare sector.
Juan Ignacio Eyzaguirre, General Manager of Lynxeo, emphasized: "I want to recognize the remarkable efforts that have gone into the project of establishing Lynxeo over the past few months. Our company brings together cutting-edge expertise that is fully aligned with the needs of our clients while addressing future industrial challenges. This is a pivotal moment for our 2,000 employees worldwide who are wired to electrify the industries that move the world. I am deeply honored and delighted to manage this exceptional team."
Christopher Guérin, CEO of Nexans, added: "Today marks a significant milestone in our strategic roadmap. We take great pride in introducing Lynxeo. Our simplification plan positions Lynxeo as a leader in specialty industrial cables while reaffirming Nexans' role as a leader in electrification to support the climate transition. We want to see Lynxeo and its people continue to thrive and will review all options as we continue to deliver in full and on time on our promises."
About Nexans
For over a century, Nexans has played a crucial role in the electrification of the planet and is committed to electrifying the future. With approximately 28,500 people in 41 countries, the Group is paving the way to a new world of safe, sustainable and decarbonized electricity that is accessible to everyone. In 2023, Nexans generated 6.5 billion euros in standard sales. The Group is a leader in the design and manufacturing of cable systems and services across four main business areas: Power Generation & Transmission, Distribution, Usage and Industry & Solutions. Nexans was the first company in its industry to create a Foundation supporting sustainable initiatives, bringing access to energy to disadvantaged communities worldwide. The Group is recognized on the CDP Climate Change A List as a global leader on climate action and has committed to Net-Zero emissions by 2050 aligned with the Science Based Targets initiative (SBTi).
Nexans. Electrify the future.
Nexans is listed on Euronext Paris, compartment A.
For more information, please visit www.nexans.com
Contacts:
| Communication Mael Evin (Havas Paris) Tel.: +33 (0)6 44 12 14 91 nexans_h@havas.com Emmanuel Guinot emmanuel.guinot@nexans.com Maëllys Leostic maellys.leostic@nexans.com | Investor relations Elodie Robbe-Mouillot Tel.: +33 (0)1 78 15 03 87 elodie.robbe-mouillot@nexans.com |
