Milan, 13 May 2016. Prysmian Group, world leader in the energy and telecom cables and systems industry, has entered into an agreement for the acquisition of the copper data cable operation located in Austraße 101, 96465 Neustadt b. Coburg, Germany from Corning Optical Communications GmbH & Co. KG.
The acquired business reported sales of approximately 22M € in 2015, and consists of a plant for the production of CAT5, CAT6 and CAT7 cables.
The investment will allow the Group to further expand its presence and speed up growth strategy in the MultiMedia Solutions business segment. In particular the acquired business will enhance the Group’s product offering for high-capacity and flexible cable for data transmission and data centre solutions.
The closing of the acquisition is subject to customary closing conditions.
Prysmian Group is world leader in the energy and telecom cables and systems industry. With almost 140 years of experience, sales of about €7.5 billion in 2015, over 19,000 employees across 50 countries and 88 plants, the Group is strongly positioned in high-tech markets and offers the widest possible range of products, services, technologies and know-how. It operates in the businesses of underground and submarine cables and systems for power transmission and distribution, of special cables for applications in many different industries and of medium and low voltage cables for the construction and infrastructure sectors. For the telecommunications industry, the Group manufactures cables and accessories for voice, video and data transmission, offering a comprehensive range of optical fibres, optical and copper cables and connectivity systems. Prysmian is a public company, listed on the Italian Stock Exchange in the FTSE MIB index.
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