Prysmian Group Opens New Production Facility In Rybinsk, Russia;Investment of US$ 55 m to produce cables for power transmission and distribution;Prysmian forecast around €200 m sales in Russia in 2016
(M2 PressWIRE Via Acquire Media NewsEdge) Milan - Prysmian Group, world leader in the energy and telecom cables and systems industry, has opened today, in the presence of Prysmian Group's CEO Valerio Battista, the Governor of the Yaroslavl Region Yastrebov Sergey Nikolaevich and the Italian Ambassador in Russia Cesare Maria Ragaglini, its new medium and high voltage cable production facility in Rybinsk, in the Russian Yaroslavl region, as the latest step in its expansion plans in Russia.
After the acquisition in 2009 of Rybinskelectrocabel, one of Russia's most dynamic cable manufacturers, with the aim of building up local production capacity in high-tech business areas such as High Voltage and Industrial cables, the Group's expansion in Russia continued following the merger between Prysmian and Draka, with the integration in 2011 of the St. Petersburg's Neva Cable factory, which makes telecom copper and optical cables.
"The US$ 55 M total investment in the Russian market will allow us to start producing Medium Voltage and High Voltage cables locally, using manufacturing processes that meet the best quality standards of the Group and the best-in-class technology of the cable industry," explains Cesare Biggiogera, CEO Prysmian Group Russia. "This is a mandatory step if we want to be a partner to Russia's power transmission and distribution companies, and it will help us to reach the forecast sales target of around EUR200 million in 2016."
The Rybinsk plant, which also produces cables for the oil and gas industry, fire performance cables (Low Smoke Zero Halogen) and auto wires, will soon supply the full range of applications in the energy cable business, including medium voltage cables up to 35 kV and high voltage cables up to 330 kV with maximum cross-section 2500 mm2 and cross-linked polyethylene insulation.
The production area stretches across 120,000 m2, of which 30,000 m2 under cover. The new facility will add 10,000 tonnes of production capacity, bringing the total potential production of Rybinskelectrocabel to 25,000 tonnes per year. The plant will employ more than 300 people, adding 100 to the existing 220 currently working on the site. This will allow the Yaroslavl region to become Russia's leading area for cable and wire production, with the total production capacity of Prysmian and the region's other cable manufacturers meeting 20% of Russia's energy cable demand.
The opening of this new facility represents a fundamental step in the Group's plans to expand in the Russian market. The start of local production undoubtedly represents a competitive advantage for Prysmian and will help strengthen the Group's presence in this high-potential market. In recent years the Group has been involved in developing a High Voltage network in St. Petersburg, and in upgrading the Moscow transmission grid. In the telecoms sector, Prysmian has deployed its FTTH systems in several of Russia's major cities, and the Neva Cable factory is currently being renovated, switching its production from standard copper telecom cables to optical fibre and OPGW cables, to better match the needs of the Russian telecom market.
Prysmian Group is world leader in the energy and telecom cables and systems industry. With sales of some EUR8 billion in 2012, about 20,000 employees across 50 countries and 91 plants, the Group is strongly positioned in high-tech markets and offers the widest range of products, services, technologies and know-how. In the Energy sector, Prysmian Group operates in the business of underground and submarine power transmission cables and systems, special cables for applications in many different industrial sectors and medium and low voltage cables for the construction and infrastructure industry. In the Telecom sector, the Group manufactures cables and accessories for the voice, video and data transmission industry, offering a complete range of optical fibres, optical and copper cables and connectivity systems. Prysmian is a public company listed on the Milan Stock Exchange in the FTSE MIB index.
Corporate & Business Communications Director
Ph. 0039 02 6449.1
Investor Relations Director
Ph. 0039 02 6449.1
((M2 Communications disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.com on the world wide web. Inquiries to email@example.com)).
(c) 2013 M2 COMMUNICATIONS
[ Back To Technology News's Homepage ]