A full speed integration

A full speed integration

On 4 December, 2017, Prysmian Group and General Cable announced they were about to merge into a single Group. One year on, the new organisation consisting of the two entities is a reality which has been achieved in record time, allowing the Group to create the structure needed to be a global champion of the cable industry.

In less than a year since the very first announcement of the merger deal with General Cable, Prysmian Group has built the pillars of the new, integrated organisation. A new and stronger than ever Group has secured the position at the top of the global cable industry with over €11 billion of sales, an increased global presence in over 50 countries, a broad manufacturing footprint with over 112 plants, the world’s widest product and brand portfolio and the most innovative technologies developed in 25 Research & Development centres. CEO Valerio Battista recently stated in a message to Prysmian Group’s people, that this is due to a combination of management expertise, talent and a highly diverse multicultural environment of about 30,000 people “whom I consider the company’s most important asset”.

According to the CEO, thanks to these strengths, the new Group will be able to meet the expectations of all stakeholders, from employees to customers and shareholders. All of this is happening at a time of considerable change, challenges and business opportunities: the transition to a smarter and cleaner energy scenario and the revolution of the digital economy, which represent clear opportunities for the global leader of the cable industry. Thanks to the increased capability to invest in innovation, the Group will be able to benefit from these opportunities. Of course, there will also be challenges to face, such as the constantly evolving global economic and political scenario, as well as the increasing competition in the cable and systems industry, but after the merger with General Cable, the company is even better equipped to face said challenges and succeed, both now, and in the future.

FORGING AHEAD WITH THE NEW ORGANISATION

We are some way into the merger process journey of Prysmian Group and General Cable, and the integration of the perimeters of the two companies is forging ahead beyond even the most optimistic expectations.

A new organisation has been firmly established, along with an extended leadership team, ready to lead the Group at the corporate, regional, business and functional levels. Fabrizio Rutschmann, Chief HR Officer of Prysmian Group, explains that this was the outcome of extensive assessment and planning, with the differences between the two groups having been subject to widespread and in-depth analysis as well as designs being created for the new organisation.

The Group now also expects to be much stronger in terms of its geographical footprint, as General Cable has always been strong in the Americas, and through the merger Prysmian Group has doubled its position in this region. To facilitate a smooth process, Prysmian collected a vast amount of data on various cultural factors at different levels of the firm, with 1,500 employees taking part in a survey on this topic.

Operations are the core of the integration process, and Prysmian arrived well equipped to deal with and overcome any operational challenges, with its Fast Forward Operations program, aimed at raising awareness about the Group’s strategy and to stimulate participation and contributions on behalf of all involved.

A shared culture founded on three main values

A cultural journey started just after the merger agreement, which aimed at combining the optimum traits of both Prysmian Group and General Cable, as well as to create a definition for the new organisation.

The journey of Prysmian Group and General Cable towards the creation of a shared set of values began with the event “Out In Front Together” that saw 480 managers from all over the world discussing the future of the company. This included a cultural survey, “Our Company Values Survey”, held in the Prysmian Group Academy where 1,500 employees shared their thoughts and opinions. This was followed by 10 cultural workshops in different locations with an additional 250 employees who connected to share leadership stories and validate the results of the survey. This allowed a more in-depth understanding to be gained of the behaviours critical to the company. The outcome of the survey and workshop has been shared with the top management in a dedicated session, adding observation in a stunning example of togetherness to finalise and release our new values.

The outcome was the definition of three key values: DRIVE,TRUST, SIMPLICITY.With the first, we aim to lead the industry evolution, combining our ability to develop our people and our business in a clear direction while anticipating customer needs. With Trust, we want to create an environment of trust that exploits diversity and collaboration, where people are empowered to make decisions with integrity. Simplicity means that we bet to simplify anything we can, focusing on high-value generating activities and timely decisions to boost our Company results.

Upon those pillars, according to Fabrizio Rutschmann, Chief HR Officer of Prysmian Group, “We empower our people to grow by leveraging on career opportunities, expressing themselves and sharing different ideas to make our company stronger”.

The entire process made it evident to all that one of the most valuable assets shared by these two successful companies is people; this asset is of even greater importance to the new combined group. The new group comprises of people with different backgrounds, stories, and complementary capabilities and skills: it is a truly multicultural group with a shared passion for success.

THE POWER OF INNOVATION

Srini Siripurapu, Chief Research & Development Officer Prysmian Group, explains how the combination with General Cable has created a new Research & Development powerhouse as both companies’ skills and knowledge shape product development for the future.

After the combination with General Cable, Prysmian Group now has a combined R&D global footprint of 25 centres worldwide, of which there are 8 from legacy General Cable and 17 from legacy Prysmian Group, and a combined portfolio of over 5,600 patents. Two key General Cable R&D Centres have been added; the Indianapolis Technology Centre, a Centre of Excellence for Materials Innovation, and the Marshall Technology Centre, a world class Electrical Testing Lab.

A VERY RICH STORY. Srini Siripurapu, the Group’s new Chief Research & Development Officer, explains that both companies “have a very rich history of successful development and commercialisation of flagship products and well recognised brands in the global wire and cable industry”. The combined Group will continue to invest in the already established R&D leadership in high voltage, submarine and telecom products and has already been sharing expertise in R&D for its ‘bread and butter’ insulated low voltage and medium voltage energy products. Srini states that the new organisation “now has the broadest product portfolio in this space to service customers in any part of the world”. Overall, he adds, “this merger provides tremendous opportunity for our R&D team to learn from each other and adapt the very best of the R&D tools and practices, to create an efficient collaborative ecosystem with our customers, partners and suppliers.”

Getting stronger together

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