Pirelli Cables & Systems Becomes Prysmian

Following its acquisition by Goldman Sachs Capital Partners on July 28th this year, the former Pirelli Cables & Systems has now been renamed as Prysmian Cables & Systems.

Milan   -   10/02/2005

Following its acquisition by Goldman Sachs Capital Partners on July 28th this year, the former Pirelli Cables & Systems has now been renamed as Prysmian Cables & Systems.

Prysmian will continue to operate and develop its business in the two core cable sectors of Telecoms and Energy, continuing a history of more than 130 years of activity in these markets.

The company will maintain its existing product portfolio which covers the full range of Energy cable products - from very high voltage cable for submarine and terrestrial installation through to industrial applications including amongst others OGP, mining, shipping and railways. The telecoms portfolio is equally comprehensive featuring a full range of optical cables and fibres together with conventional copper and xDSL cable products.

The long term success of the company has been based upon a continuous programme of investment in key business sectors, sustained development of high quality products and a close attention to the needs of the market. In line with this strategy Prysmian recently announced the opening of a new facility in Brazil which will produce umbilical cables for the offshore power industry.

CEO of Prysmian, Mr Valerio Battista says "our strategy is to continue working as an innovative partner of all of our customers, continuing to develop new and better products for them. We operate in a complex and changing market environment and we will continue to strive for excellence in both the products and services which we provide to our clients".

Prysmian Group
Prysmian Group is world leader in the energy and telecom cables and systems industry. With sales of some €8 billion in 2011, about 22,000 employees across 50 countries and 97 plants, the Group is strongly positioned in high-tech markets and provides 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 listed on the Milan Stock Exchange in the Blue Chip index.