General Cable Integration

General Cable Integration

Enhancing Worldwide Leadership

The merger of Prysmian and General Cable represents a landmark and unique opportunity to create a truly global leader in the cable industry. The merger with General Cable drives significant value creation for all stakeholders, driven by a larger scale, a more balanced geographical presence, an extended and synergic product portfolio supported by Prysmian’s proven execution capabilities.

Key Rational of the Merger

The combination of Prysmian and General Cable will enable the creation of a truly Global and Leading player in the Cable Industry, with approximately 11 billion Euro of annual turnaround and 30,000 employees, with presence in more than 50 countries worldwide.

An highly complementary geographical presence of Prysmian and General Cable increases the capability to exploit global trends, with a more balanced exposure between Europe and North America and a reduced risk of geographic overlap.

The combination of the highly complementary product portfolios of Prysmian and General Cable will allow to extend and complete the Group's offer, leveraging on the technological excellence achieved by each company in many business areas.

The integration between Prysmian and General Cable enables substantial synergies generation, leveraging on proven Prysmian's execution capability. The main synergies sources identified involve procurement centralization, overhead costs' reduction, manufacturing footprint optimization, net working capital management and financing cost reduction.

Creating a Truly Global Player

Creating a Truly Global Player

Sales Breakdown by Geography

Highly complementary geographical presence enhancing global leadership in the cable industry, with major exposure increase in North America and expansion in Europe and Latam. A well-balanced global presence and large scale are key propellers for long-term value creation focused on profitable growth and financial discipline.

High Synergies Potential

The integration between Prysmian and General Cable enables substantial synergies generation, leveraging on proven management execution capability. A significant portion of cost savings is expected to be achieved within the first 3 years of the integration process. Additional opportunities from net working capital management and reduced cost of financing of the new Group.
Main sources of estimated cost synergies:

  • Procurement

  • Overhead costs’ saving

  • Manufacturing footprint optimization

High Synergies Potential

Press Releases and Presentations

11 Jun 2018

Company Presentation - New Organization

04 Dec 2017

THE INTEGRATION OF GENERAL CABLE

11 Jun 2018

Prysmian Group announces the launch of its new organisation

06 Jun 2018

CLOSING OF THE ACQUISITION OF GENERAL CABLE

02 Jun 2018

CFIUS CLEARANCE AND ANTICIPATED CLOSING DATE OF JUNE 6, 2018

09 Mar 2018

General Cable Acquisition has been cleared for U.S. antitrust purposes

16 Feb 2018

General Cable’s shareholders approved the acquisition by Prysmian Group by large majority

04 Dec 2017

THE ACQUISITION OF GENERAL CABLE