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MILESTONE
In terms of acquisition-led growth, 2012 saw the acquisition
of 100% of Global Marine Systems Energy Ltd. (GME)
from Global Marine Systems Ltd. (GMSL), at a price of
approximately Euro 52 million.
GME is a British company active in the installation of
submarine power cables and systems, whose strategic assets
include a new cable ship, and which offers high value-added
services for the installation of submarine power lines, ranging
from project management to cable laying, jointing and
protection. GME has particular expertise in offshore wind
farm connections and is currently involved in several major
projects underway in the North Sea.
This acquisition is in line with the Group’s strategy of
focusing investments to achieve growth in higher value-
added businesses. The expansion of submarine power cable
installation capability allows Prysmian to have tighter
control over the supply chain by insourcing part of the
work previously not done directly, such as inter-array cable
installation between turbines. The Group’s goal is to present
itself more and more as a partner capable of offering turnkey
products and services, in anticipation of a growing need by
utility and contractor/developer customers.
PRYSMIAN GROUP ACQUIRES
GLOBAL MARINE ENERGY
