Nexans to build Extra High Voltage cable plant in US
This new plant will reinforce Nexans’ current position in the fast growing High Voltage Market as well as its presence in North America
Paris, July 7, 2011 – Nexans, a worldwide leading expert in the cable industry, has announced its intention to build a plant for the manufacture of underground Extra High Voltage (EHV) cables* and possible extension to submarine HV activities, in the United States. Nexans is investing in the new plant to capitalize on the significant investments expected in EHV cables in North America in the coming years.
The total investment is expected to be approximately US$80 million. The plant is expected to begin operation in the summer of 2013.
Nexans is a major global player in the High Voltage cable market with facilities in Europe and Asia-Pacific.
“The ever increasing demand for electricity from consumers and industry is driving ambitious plans for the development of major power infrastructure projects in North America. For effective and efficient transmission of electrical power, with minimum losses, these new schemes need to operate at EHV levels. So by establishing this new plant Nexans will be ideally positioned to support these projects with high quality EHV cables designed and manufactured to meet specific local market conditions,” says Frédéric Vincent, Nexans’ Chairman and CEO. “This new investment also represents a significant step forward in increasing our footprint in North America and demonstrates our long-term commitment to this key market.”
This plant will reinforce Nexans’ current product range in North America, adding to the existing medium voltage, low voltage, overhead transmission, industrial and LAN portfolios. In 2010, North America represented more than 10% of the Group’s total sales with over 1,300 people employed in seven production facilities: four in the U.S. and three in Canada.
(*) which operate at voltages greater than 200 kV.
With energy as the basis of its development, Nexans, worldwide expert in the cable industry, offers an extensive range of cables and cabling systems. The Group is a global player in the infrastructure, industry, building and Local Area Network markets. Nexans addresses a series of market segments: from energy, transport and telecom networks to shipbuilding, oil and gas, nuclear power, automotives, electronics, aeronautics, material handling and automation. Nexans is a responsible industrial company that regards sustainable development as integral to its global and operational strategy. Continuous innovation in products, solutions and services, employee development and engagement, and the introduction of safe industrial processes with limited environmental impact are among the key initiatives that place Nexans at the core of a sustainable future. With an industrial presence in 40 countries and commercial activities worldwide, Nexans employs 23,700 people and had sales in 2010 of 6 billion euros. Nexans is listed on NYSE Euronext Paris, compartment A. For more information, please consult www.nexans.com