Nexans Successfully Concludes Sale of AmerCable to Mattr
Nexans Successfully Concludes Sale of AmerCable to Mattr
Nexans is pleased to announce the successful completion of the sale of AmerCable, an esteemed manufacturer known for its electrical power, control, and instrumentation cables designed for challenging environments. This transaction, valued at approximately US$280 million, reflects Nexans' commitment to strategic realignment and operational efficiency.
Significance of the Transaction
Christopher Guérin, the CEO of Nexans, expressed enthusiasm about this development, noting, “The completion of this transaction marks yet another significant milestone in our journey to refocus the Group on electrification and simplify our portfolio. AmerCable has evolved into a high-performing business, achieving its full potential under our SHIFT program.” This statement illustrates the importance Nexans places on streamlining its operations to ensure lasting success.
Strategic Focus on Electrification
The divestment of AmerCable falls in line with Nexans' long-term vision for growth and innovation in the electrification sector. By directing resources and attention toward its core Electrification business, Nexans prepares itself to address the global demand for sustainable electricity solutions.
A Closer Look at Mattr
Mattr is a dynamic global materials technology firm dedicated to supporting critical infrastructure markets such as transportation, communication, water management, energy, and, crucially, electrification. Mattr operates through two primary business segments—Composite Technologies and Connection Technologies—both of which focus on enhancing infrastructure while minimizing risk.
Commitment to Responsible Practices
The acquisition of AmerCable by Mattr signifies an alignment of values, as both entities prioritize sustainable development and innovation within their operational frameworks. This partnership aims to drive forward responsible enhancements to critical infrastructure that serve diverse and essential markets.
Nexans: A Leader in Electrification
Nexans boasts an impressive history, having contributed significantly to the electrification of the globe for over a century. The company's commitment to shaping a sustainable future underpins its operations in 41 countries, employing roughly 28,500 individuals dedicated to fostering safe, sustainable, and decarbonized electricity access.
Pioneering Initiatives and Future Goals
With a focus on innovative technologies and sustainable practices, Nexans achieved €6.5 billion in standard sales in the recent fiscal year. They are involved in four key business areas: Power Transmission, Power Grid, Power Connect, and Industry Solutions. Nexans was also the first of its industry to establish a Foundation aimed at sustainable initiatives—working tirelessly to improve energy access for vulnerable communities worldwide. Additionally, the company has been recognized on the CDP Climate Change A List, proving its status as a leader in climate action.
Conclusion
In conclusion, the successful sale of AmerCable to Mattr marks a vital step for Nexans, solidifying its strategy towards electrification and sustainability. As the company prepares for this new chapter, it remains devoted to its mission of electrifying the future and leading the charge towards a greener world.
Frequently Asked Questions
What does the sale of AmerCable mean for Nexans?
The sale allows Nexans to refocus on its core Electrification business, aligning with their long-term strategy for growth and operational efficiency.
How much was AmerCable sold for?
AmerCable was sold for an enterprise value of approximately US$280 million.
What is Mattr's role in the market?
Mattr is a global materials technology company focused on critical infrastructure markets including energy and electrification.
What are Nexans' future goals?
Nexans aims to advance sustainable electricity solutions and achieve Net-Zero emissions by 2050 while expanding its presence in the electrification sector.
How many employees does Nexans have?
Nexans employs approximately 28,500 individuals worldwide, contributing to its operations in various sectors of electrification.
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