PIRELLI CABLES & SYSTEMS BECOMES PRYSMIANMilan, October 17 2005 - Following its acquisition by Goldman Sachs Capital Partners on July 28th this year, the former Pirelli Cables & Systems has now been renamed as Prysmian Cables & Systems.
Prysmian will continue to operate and develop its business in the two core cable sectors of Telecoms and Energy, continuing a history of more than 130 years of activity in these markets.
The company will maintain its existing product portfolio which covers the full range of Energy cable products - from very high voltage cable for submarine and terrestrial installation through to industrial applications including amongst others OGP, mining, shipping and railways. The telecoms portfolio is equally comprehensive featuring a full range of optical cables and fibres together with conventional copper and xDSL cable products.
The long term success of the company has been based upon a continuous programme of investment in key business sectors, sustained development of high quality products and a close attention to the needs of the market. In line with this strategy Prysmian recently announced the opening of a new facility in Brazil which will produce umbilical cables for the offshore power industry.
CEO of Prysmian, Mr Valerio Battista says "our strategy is to continue working as an innovative partner of all of our customers, continuing to develop new and better products for them. We operate in a complex and changing market environment and we will continue to strive for excellence in both the products and services which we provide to our clients"
Prysmian Cables & Systems
Prysmian Cables & Systems is a worldwide leader in the cable market. It operates in 5 continents with 52 production units and employs 12,500 people in more than 20 countries. Turnover in 2004 was approx 3.5 billion Euros. Prysmian Cables & Systems is a global multinational company and a technological leader in its chosen field. Among its assets are four of the most advanced R & D centres in Europe and the USA, some of the best manufacturing facilities worldwide - including advanced state of the art optical fibre production - and the Giulio Verne, one of the most modern and sophisticated cable laying ships working today "
