Prysmian launches High Voltage offering in China

PRYSMIAN

Prysmian Group has won an auction to acquire a number of assets of Shen Huan Cable for €42M plus some €4M in taxes. This allows the Group to introduce an independent High Voltage offering in China, significantly improving competitiveness, flexibility and operational efficiency.

Luigi Migliorini

CEO PRYSMIAN GROUP CHINA

“Thanks to this acquisition, Prysmian will significantly increase its competitiveness in the Chinese utilities market with greater operational flexibility, efficiency and technical developments,” says Luigi Migliorini, CEO Prysmian Group China. “Prysmian Technology Jiangsu will offer the Group’s full range of HV technologies and become the HV Centre of Excellence in APAC. We will primarily serve Chinese power utilities and grid operators as well as Asia Pacific and other developing and emerging markets, with a particular focus on high-tech projects”.

 

 

Full HV range

 

On completion of the acquisition, Prysmian Technology Jiangsu will be able to rely on manufacturing and logistics facilities consisting of an area greater than 190,000 square metres and five production lines with a production capacity of over 20,000 tons per year. Located in the city of Yixing, Wuxi municipality, Jiangsu province, the new facility will be capable of producing all the main designs available in the HV systems sector. Prysmian Technology Jiangsu will offer a wide range of cable technologies and products, including Extra High Voltage and High Voltage cable systems as well as Medium Voltage and Fire Protection cables, from 6 kV to 500 kV.

 

The acquisition will be carried out by Prysmian Technology Jiangsu Co. Ltd., a company 100% owned by the Group’s holding company in China, Prysmian China Investment Co. Ltd.

Assets acquired include 190,000 sqm and five production lines with a production capacity of over 20,000 tons per year: 2 VCV lines up to 500 kV, 1 CCV line up to 220 kV and 2 CCV lines for MV cables.

© Copyright Prysmian Group.

All rights reserved.

© Copyright Prysmian Group.

All rights reserved.