Prysmian to acquire Corning business in Germany

Getting things done


The investment in the copper data cable operation will speed up growth in the Multimedia Solutions business.

Prysmian Group is further expanding its presence and speeding up growth in the Multimedia Solutions business with the acquisition of Corning’s copper data cable operation in Germany. The world leader of the cable industry announced that it entered into an agreement for the acquisition of the operation, located in Coburg, from Corning Optical Communications GmbH & Co. The acquired business reported sales of approximately €22 million in 2015, and consists of a plant for the production of CAT5, CAT6 and CAT7 cables.

The investment will allow the Group to further expand its presence in the Multimedia Solutions business segment while speeding up its growth strategy. In particular, the business will enhance the Group’s product offering for high-capacity and flexible cables for data transmission and data-centre solutions. The completion of the acquisition is subject to customary closing conditions.

Investing in technology and execution
Prysmian’s order book in the power transmission business amounts to €3.2billion. With the goal of further strengthening its worldwide leadership in the industry, the Group is currently involved in important investment programmes, both in terms of technology innovation – such as the first ever 700kV HVDC cable system, recently announced – and project execution, with the launch of a new cable-laying barge.

Showcasing elevator excellence in China

Prysmian Group showcased its comprehensive product portfolio at the World Elevator & Escalator Expo in Shanghai, China. Products of Prysmian’s Elevator Business Unit are specifically designed for the elevator industry and include a wide range of electronic, electrical, and mechanical solutions that enhance performance and innovation for next-generation networks. The event came at a favourable time for the Group, which can benefit from the huge market and production capabilities offered by China. Prompted by the open policy and strong demand, China’s elevator industry has made great changes with ever-growing industrial scale and a rapid upgrade of technical capabilities over the last 20 years.