The Cable Directory

Prysmian, a worldwide leading player in the energy and telecom cables sectors, has today announced the closing of the transaction for the acquisition of 100 percent of German cables manufacturer Facab Lynen Gmbh & Co. KG. With salesof €62 million in 2007, one manufacturing plant and 270 employees, Facab-Lynen is a leading player in the higher value-added market of industrial cables, in particular for renewable energy, transport and mining sectors.

The financial structure of the operation foresees for Prysmian a global acquisition cost of approximately €29 million, that will include, in addition to the price of €3.5 million (subject to adjustment), the consolidation of Facab-Lynen net financial debt, which amounted to €13 million in 2007 as well as the pension fund liabilities.

The strategic plan to reinforce Prysmian’s presence in the German market envisages bringing Facab-Lynen’s profitability to the same levels of the Group, through increases in production capacity and the integration of facilities.

In Germany, Prysmian currently has 2 production plants and in 2007 achieved revenue of €450 million, counting among its clients all major utilities, multinational industrial groups and worldwide operating wholesalers. According to its growing strategy in higher value-added markets and products, through the acquisition of Facab-Lynen Prysmian further reinforces its position in the industrial cables market, particularly in the growing renewable energy sector.

Prysmian

A leading player in the industry of high-technology cables and systems for energy and telecommunication, the Prysmian Group is a truly global company with sales exceeding 5 billion euro in 2007 and a strong position in higher-added value market segments. With its two business, Energy Cables & Systems (submarine and underground cables for power transmission and distribution, for industrial applications and for the distribution of electricity to residential and commercial buildings) and Telecom Cables & Systems (optical cables and fibres and copper cables for video, data and voice transmission), Prysmian boasts a global presence with subsidiaries in 36 countries, 54 plants in 21 countries, 7 Research & Development Centres in Europe, USA and South America, and over 12,000 employees. Specialising in the development of products and systems designed to meet clients’ specific requirements, Prysmian’s key strengths include: a focus on Research & Development, the capacity to innovative on products and production processes, and the use of advanced proprietary technologies. Prysmian is listed on the Milan Stock Exchange Blue Chip index.

Media relations
Lorenzo Caruso
Communication Director
Ph. 0039 02 6449.21
lorenzo.caruso@prysmian.com

Investor Relations
Luca Caserta
Head of Investor Relations
Ph. 0039 02 6449.21
luca.caserta@prysmian.com

This entry was posted on Thursday, June 5th, 2008 at 12:21 pm and is filed under Cable & Wire News, Cable Manufacturers, Prysmian News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.