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| Prysmian invests $47.5 million in high-voltage cable plant |
| By Charlotte Eyre | EUROPEAN PLASTICS NEWS November 2, 2009 Prysmian SpA, a Milan, Italy-based supplier of cables to the energy and telecoms markets, claims its new 32 million euro ($47.5 million) plant will be the first to produce extra high voltage power cables in North America. The facility, located in Abbeville, S.C., consists of a Vertical Continuous Vulcanization (VCV) process housed in a 373-foot tower. Prysmian hopes to gain a competitive advantage in the North American high voltage cables market, boosted in part by the US government’s emphasis on modernizing power transmission networks. The Abbeville site is Prysmian’s fourth in North America; it also has medium and low voltage cable production facilities in Lexington, S.C., and in Quebec and Ontario. In 2008, North America represented 11.8 percent of the company’s sales. Prysmian has also invested in the high-tech cable sector in Asia and Europe. “These include China, where the construction of 24,000 kilometers of new power transmission lines has been announced, and Europe, where strong impetus is coming both from the need to develop network interconnectors, and from the development of renewable energy from wind farms that require connecting to the traditional transmission networks,” the company said in a news release. Prysmian formed in 2005 when tire company Pirelli SpA sold its cable and telecommunications businesses to Goldmann Sachs Group. Prysmian became a publicly listed company in 2007 and now has 14 manufacturing facilities. Outside North America, these are located in France, Finland, Brazil, Argentina, Italy, Spain, Turkey, the United Kingdom, Indonesia, Malaysia and China. Source: Plastics News |
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