Nexans now holds 100% of Nippon High Voltage Cable
Post# of 301275
PRESS RELEASE
Nexans now holds 100% of Nippon High Voltage Cable Corporation (NVC)
Tokyo Bay factory supports the Group in addressing the growing demand for submarine high voltage power cables worldwide.
Paris La Défense, July 7, 2017 - Further to an agreement between Nexans and Viscas, shareholders of NVC, the Joint Venture is now a 100% Nexans company.
"Created in 2006, the objective of this JV was to support the development of the Group's sales, by adding capacity in Oil Filled and Mass Impregnated Paper Cables ", explains Vincent Dessale, Executive Vice President, Submarine High Voltage Cables. " Over the period, it has already delivered major projects: Hainan I, Cometa, Strait of Belle Isle (SOBI) and Maritim Link."
"The full control of this manufacturing asset will further support Nexans development in addressing the promising perspectives and growing energy submarine market" adds Dirk Steinbrink, Senior Executive Vice President, High Voltage and Underwater Cable Business Group.
About Nexans
Nexans brings energy to life through an extensive range of cables and cabling solutions that deliver increased performance for our customers worldwide. Nexans' teams are committed to a partnership approach that supports customers in four main business areas: Power transmission and distribution (submarine and land), Energy resources (Oil & Gas, Mining and Renewables), Transportation (Road, Rail, Air, Sea) and Building (Commercial, Residential and Data Centers). Nexans' strategy is founded on continuous innovation in products, solutions and services, employee development, customer training and the introduction of safe, low-environmental-impact industrial processes. In 2013, Nexans became the first cable player to create a Foundation to introduce sustained initiatives for access to energy for disadvantaged communities worldwide. Nexans is an active member of Europacable, the European Association of Wire & Cable Manufacturers, and a signatory of the Europacable Industry Charter. The Charter expresses its members' commitment to the principles and objectives of developing ethical, sustainable and high-quality cables. Nexans, acting for the energy transition, has an industrial presence in 40 countries, commercial activities worldwide, is employing close to 26,000 people and generating sales in 2016 of 5.8 billion euros. Nexans is listed on Euronext Paris, compartment A.
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Contacts :
| Press Angéline Afanoukoe Tel: +33 (0)1 78 15 04 67 angeline.afanoukoe@nexans.com | Investor relations Michel Gédéon Tel: +33 (0)1 78 15 05 41 michel.gedeon@nexans.com |
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