Nexans completes the sale of AmerCable to Mattr
_PRESS RELEASE_
Paris, January 2, 2025 - Nexans announces today the completion of the sale of AmerCable, a leading manufacturer of electrical power, control and instrumentation cables for harsh environments, to Mattr, for an enterprise value of US$280 million.
Christopher Guérin, CEO of Nexans stated: "The completion of this transaction marks yet another significant milestone in our journey to refocus the Group on electrification and simplify our portfolio. Over the past decade, AmerCable has been transformed into a high-performing business, achieving its full potential under our SHIFT program. We thank our AmerCable colleagues for their dedication and contributions and wish them every success for their exciting next chapter."
The divestiture aligns with Nexans' long-term strategy and allows the Group to sharpen its focus on its core Electrification business.
About Mattr
Mattr is a growth-oriented, global materials technology company broadly serving critical infrastructure markets, including transportation, communication, water management, energy and electrification. Its two business segments, Composite Technologies and Connection Technologies, enable responsible renewal and enhancement of critical infrastructure while lowering risks.
For more information, visit: https://www.mattr.com/
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: PWR-Transmission, PWR-Grid, PWR-Connect 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 | Investor relations Elodie Robbe-Mouillot Tel.: +33 (0)1 78 15 03 87 elodie.robbe-mouillot@nexans.com |
