Investment is part of the wider $250 M plan to increase optical cable and fiber capacity globally. 50 new jobs will be created over next 3 years
Prysmian Group announced a planned expansion to the company’s facility in Claremont, North Carolina. The $54 million investment will increase the plant’s capacity by 60 percent and support the production of optical fiber for the telecom industry. With this investment, Prysmian Group has approved a capital expenditure of more than $79 million for its Claremont facility since 2014.
“Prysmian Group continue investing throughout North America to positively impact communities with innovative telecom solutions”
said Hakan Ozmen, CEO of Prysmian Group North America. Prysmian Group, which employs 21,000 people across 50 countries expects the Claremont expansion to yield 50 new jobs over the next three years.
Philippe Vanhille, Telecom Executive Vice President for Prysmian Group said: “This latest expansion in North Carolina will answer the economic and social demand for more fiber networks to deliver information wherever it’s required”.
“These investments have been critical to making our Claremont facility self-sufficient from internal Prysmian supply from Europe while providing additional logistic and quality control advantages”
said Steve Linden, Optical Fiber Business Unit Director of Operations. “We are grateful to the state of North Carolina and county for supporting this latest development, which will allow us to significantly expand our equipment to produce fiber optic cable from end to end”
Prysmian Group established a wonderful relationship with local community. Shawn R. Brown, City of Claremont's Major, declared:
“Over the past four years, we have had frequent dialogue with Prysmian’s team to better understand their needs and how the City can best support their efforts to grow. It is those discussions that have helped pave the way for announcements like today’s”
Prysmian Group’s announcement of its Claremont facility expansion comes on the heels of other additional investments throughout North America and worldwide. In May, Prysmian Group announced plans to make significant investments throughout North America with a $300 million, three-year contract to aid Verizon in the development of its 5G and new broadband networks. In July, the company announced a $14 million investment to its Abbeville facility to fulfill future renewable energy projects and in August, Prysmian Group broke ground on a new R&D Center expansion in Lexington to bring experts from around the globe to South Carolina. Most recently, the company announced a $15 million investment to its Lexington facility to support the production of fiber cable for the Verizon agreement.
These are part of the €250 million investment plan aimed at improving the Group’s global production capacity and capabilities, to meet the growing demand for optical cables for the deployment of new high-speed telecommunications networks.
For more information about Prysmian Group in North America, visit na.prysmiangroup.com.