Good News from Thu, 14 June, 2012:

Prysmian Group invests in submarine cable factory

www.draka.fi Prysmian’s factory in Kirkkonummi. Prysmian’s factory in Kirkkonummi.

The Italian cable company Prysmian Group has inaugurated its new submarine cable factory in Pikkala in Kirkkonummi, near Helsinki. The company has invested roughly EUR 40 million in expanding its production at the factory.

Our positive experiences of the Finnish operating environment were a key factor in our decision to make this strategically important production unit part of the Pikkala factory, says Marcello Del Brenna, CEO of Prysmian Power Link, the Group’s marine cable division.

Several large-scale offshore wind farms will be constructed in Europe, which will need to transfer electricity over long distances in demanding conditions. The Pikkala factory is also known around the world as a producer of high voltage cables. Its location is logistically ideal and the cables can be loaded directly onto ships from the factory. It is a natural place for us to expand our production, Del Brenna explains.

Prysmian Group’s current cable production in Finland dates all the way back to Salmisaari, Helsinki, in 1912. Today the old cable factory houses the cultural centre Kaapelitehdas.

Prysmian Group is the world’s largest energy, specialty and telecom cable company with net sales of EUR 8 billion. The Group’s commercial brands Prysmian and Draka are produced at 97 factories employing 22,000 people in 50 countries. The company has 500 employees in Finland and production plants in Kirkkonummi and Oulu.

www.prysmian.com

ML