<![CDATA[ Prysmian News ]]> en <![CDATA[Press Release]]> The Board of Directors of Prysmian S.p.A. met today, further to the resignations of the Directors Michael Ogrinz and Michele Titi Cappelli, and resolved to postpone to the next Shareholders’ Meeting any decision in relation to a possible integration of the Board of Directors.
Furthermore, the Board decided to postpone to a following meeting any decision upon the integration of the Strategic Committee, of which Mr. Ogrinz was a member.

Media Relations
Lorenzo Caruso
Communication Director
Ph. 0039 02 6449.1
lorenzo.caruso@prysmian.com

Investor Relations
Luca Caserta
Head of Investor Relations
Ph. 0039 02 6449.1
luca.caserta@prysmian.com

]]>
Tue, 9 Mar 2010 09:47:00 +0100
<![CDATA[Ten industry leaders form new organisation to advance Offshore Supergrid]]>
The FOSG is the only representative body that combines companies in sectors that will deliver the High Voltage Direct Current (HVDC) infrastructure and related technology, together with companies that will develop, install, own and operate that infrastructure. It brings together the organisations that will design the physical equipment, with those who will build the structures at sea.

The founding members include 3E, AREVA T&D, DEME Blue Energy, Elia, Hochtief ConstructionAG, Mainstream Renewable Power, Parsons Brinckerhoff, Prysmian Cables & Systems, Siemens and Visser & Smit Marine Contracting.

Speaking at the launch on behalf of the members, Mainstream Renewable Power’s Chief Executive Dr Eddie O’Connor said,” The UK government has recently shown its commitment to large-scale offshore wind by announcing the development of up to 50GW by 2020. We now need to integrate this huge resource into Europe to enable the open trade of electricity between Member States. The Friends of the Supergrid is uniquely placed to influence policy-makers towards creating the Supergrid and ultimately changing how we generate, transmit and consume electricity for generations to come.”

In December last year, nine EU Member States, including the UK and Germany, signed a political declaration for the “North Seas Countries Offshore Grid Initiative”. Last month Norway signed the declaration, whose aim is to develop policy to advance offshore interconnection in Europe. The FOSG is solely able to present “cradle to grave” interconnection solutions to the policy-makers and others looking to develop energy policy across Europe through to 2050.

FOSG will be run by an Executive and directed by the Board of members. Membership will be kept to a maximum of 20 companies and aims to have both an industrial and geographic cross-section, with its base in Brussels.

The concept of the Supergrid was first launched a decade ago and it is defined as “an electricity transmission system, mainly based on direct current, designed to facilitate large-scale sustainable power generation in remote areas for transmission to centres of consumption, one of whose fundamental attributes will be the enhancement of the market in electricity”.
The Supergrid will open markets, strengthen security of supply and create another global opportunity for European companies to export sustainable energy technology. The technology underpinning the Supergrid will give competitive advantage to the companies involved with its specification and design. This type of integrated AC/DC grid will be a template for what will be needed in other global markets including the US and China.

For more information visit www.friendsofthesupergrid.eu  

Prysmian
A leading player in the industry of high-tech cables and systems for energy and telecommunications, the Prysmian Group is a truly global business with more than Euro 3.7 million in sales in 2009 and a strong position in higher value-added market segments. With its two businesses, Energy Cables & Systems (submarine and underground cables for power transmission and distribution, for industrial applications and for the distribution of electricity to residential and commercial buildings) and Telecom Cables & Systems (optical cables and fibres and copper cables for video, data and voice transmission), Prysmian boasts a global presence with subsidiaries in 39 countries, 56 plants in 24 countries, 7 Research & Development Centres in Europe, USA and South America, and around 12,000 employees. Specialising in the development of products and systems designed to customer specification, Prysmian's key strengths include: a focus on Research & Development, the capacity to innovate products and production processes, and the use of advanced proprietary technologies. Prysmian is listed on the Milan Stock Exchange in the Blue Chip index.


Media Relations
Lorenzo Caruso
Marketing & Corporate Communications Director
Ph. 0039 02 64491
lorenzo.caruso@prysmian.com  

Investor Relations
Luca Caserta
Head of Investor Relations
Ph. 0039 02 6449.1
luca.caserta@prysmian.com ]]>
Mon, 8 Mar 2010 18:38:00 +0100
<![CDATA[Press Release]]> Compliance with market disclosure requirements

As of today, are available to the public, through publication on the website www.prysmian.com as well as through their filing at the Company’s registered office and at Borsa Italiana S.p.A., the Consolidated Financial Statements and the Draft Statutory Financial Statements as of December 31st, 2009, and the Annual Report on Corporate Governance, which also includes information on the shareholders’ structure, pursuant to art. 123-bis of the UFA, and the extract of the minutes of notary public meeting of the Board of Directors of Prysmian S.p.A. of March 3rd, 2010, regarding a bond issuance.

Media Relations
Lorenzo Caruso
Communication Director
Ph. 0039 02 6449.1
lorenzo.caruso@prysmian.com  

Investor Relations
Luca Caserta
Head of Investor Relations
Ph. 0039 02 6449.1
luca.caserta@prysmian.com  

]]>
Mon, 8 Mar 2010 10:12:00 +0100
<![CDATA[Press Release]]> Further to the press release of 4 March 2010, Prysmian S.p.A. (the Company) has been informed by Prysmian (Lux) II S.à r.l., that today it has successfully completed, together with Goldman Sachs International, the offering of their respective shareholdings held in the Company to selected investors.

Through such offering, Prysmian (Lux) II S.à r.l. has agreed to sell 29,432,421 ordinary shares of the Company, equal to 16.240% of the Company’s share capital. The Company has been also informed that in the context of the same offering, the shareholder Goldman Sachs International has agreed to sell 1,021,592 ordinary shares of the Company, equal to 0.564% of the Company’s share capital.

Valerio Battista, the CEO of Prysmian S.p.A., has communicated to the Company that, in the context of the above mentioned offering, he has acquired no.1,500,000 shares of the Company.

Michael Ogrinz and Michele Titi-Cappelli have notified the Company of their resignation as members of the Company’s Board of Directors as of today. In its press release, Prysmian (Lux) II S.à r.l. has also specified that Hugues Lepic and Paolo Zannoni will remain on the Board of Directors of the Company for the time being to assist with the transition to new directors, but expect to resign from their roles in the near term, in coordination with the Company.

This announcement is for information purposes only and is not an offer to sell, or the solicitation of an offer to buy, any securities.

The above offering has not been, not will it be available in the United Kingdom to anyone other than the following persons: (i) persons having professional experience in matters relating to investments; and (ii) persons falling within Articles 49(2)(a) to (d) of the U.K. Financial Services and Markets Act 2000 (Financial Promotion) Order 2001 (high net worth corporations, unincorporated associations etc.). If you are in the United Kingdom and do not fall into one of the above categories, you are not be eligible to participate in the offering, and you should not act upon, or rely on, this announcement.

The offer and sale of the securities referred to in this announcement has not been, nor will it be, registered under the United States Securities Act of 1933 and the securities may not be offered or sold in the United States absent such registration or an applicable exemption from registration. There was not and there will be no public offering of the securities in the United States in connection with this transaction.

Media relations
Lorenzo Caruso
Communication Director
Ph. 0039 02 6449.1
lorenzo.caruso@prysmian.com  

Investor Relations
Luca Caserta
Head of Investor Relations
Ph. 0039 02 6449.1
luca.caserta@prysmian.com

]]>
Fri, 5 Mar 2010 11:57:00 +0100
<![CDATA[Press Release]]> Prysmian S.p.A. (the Company) has been informed by its shareholder Prysmian (Lux) II S.à r.l. that it intends to sell, together with the other Company’s shareholder Goldman Sachs International, its entire shareholding in the Company – equal to an aggregate amount of approximately 16.804% of the Company’s share capital - through an offering to selected investors. The procedure will start today.

Valerio Battista, the CEO of Prysmian S.p.A., has communicated to the Company that he has placed an order to acquire approximately 1,500,000 shares of the Company.

In its press release, Prysmian (Lux) II S.à r.l. has also specified that, assuming the offering is successfully completed, Michael Ogrinz and Michele Titi-Cappelli will resign their roles on the Company’s Board of Directors as of the completion of the offering. Hugues Lepic and Paolo Zannoni expect to remain on the Board of Directors following the completion of the offering to assist with the transition to new directors, but will resign their roles in the near term, in coordination with the Company.

This announcement is for information purposes only and is not an offer to sell, or the solicitation of an offer to buy, any securities.
The above offering will only be available to the following persons in the United Kingdom: (i) persons having professional experience in matters relating to investments; and (ii) persons falling within Articles 49(2)(a) to (d) of the U.K. Financial Services and Markets Act 2000 (Financial Promotion) Order 2001 (high net worth corporations, unincorporated associations etc.). If you are in the United Kingdom and do not fall into one of the above categories, you will not be eligible to participate in the offering, and you should not act upon, or rely on, this announcement.

The above offer and sale of the securities referred to in this announcement has not been, nor will it be, registered under the United States Securities Act of 1933 and the securities may not be offered or sold in the United States absent such registration or an applicable exemption from registration. There will be no public offering of the securities in the United States in connection with this transaction.

Media relations 
Lorenzo Caruso
Communication Director
Ph. 0039 02 6449.1
lorenzo.caruso@prysmian.com  

Investor Relations
Luca Caserta
Head of Investor Relations
Ph. 0039 02 6449.1
luca.caserta@prysmian.com

]]>
Thu, 4 Mar 2010 09:51:00 +0100
<![CDATA[Prysmian S.p.A., 2009 results]]> Profitability target achieved: ADJ EBITDA euro 403 Million
Sales trend stabilisation in second half
Margins stable: ADJ EBITDA 10.8% of sales (10.5% in 2008)
High cash generation confirmed

Sales: euro 3,731 million (organic change -17.4%) 
ADJ EBITDA : euro 403 million (euro 542 million in 2008; -25.6%) 
ADJ OPERATING INCOME : euro 334 million (euro 477 million in 2008; - 30.1%) 
NET PROFIT: euro 252 million (euro 235 million in 2008; +7.5%) 
ADJ NET PROFIT : euro 206 million (euro 332 million in 2008; -37.9%) 
FREE CASH FLOW : euro 183 million. 
Net Financial Position improved to euro 474 million from euro 577 million in 2008

Dividend confirmed at euro 0.417 per share for a total pay-out of euro 74 million


The Board of Directors of Prysmian S.p.A. has approved today the Company's consolidated financial statements and separate financial statements for 2009 .

"During 2009 Prysmian kept a prudent management approach while continuing to develop effective growth strategies at the same time," explains CEO Valerio Battista. “We are particularly proud of having achieved the initial Group profitability target even in a still weak market environment. Furthermore, thanks to the strategy developed - continues Battista - we have been able to strengthen the Group's financial solidity, with a significant improvement in our net financial position. Looking ahead, we believe that the investments in high-tech businesses, combined with the acquisitions made in high-growth markets like India, Russia and the Middle East, will allow us to fully benefit from future market recovery."


FINANCIAL RESULTS

Sales amounted to Euro 3,731 million with a negative organic change of 17.4%, net of metal price and exchange rate effects and changes in the group perimeter.

Adjusted EBITDA amounted to Euro 403 million (-25.6% on 2008), achieving the target originally announced to the market, with the margin on sales rising to 10.8% from 10.5% at the end of 2008. This improvement in margin is attributable to the greater weight of high value-added businesses, which accounted for approximately 65% of adjusted EBITDA (approximately 50% in 2008), and to the reduction in fixed costs.

EBITDA amounted to Euro 366 million, down 29.3% from Euro 518 million in 2008, with a margin on sales of 9.8% versus 10.1% in the previous year.

Operating income , including the positive impact of Euro 91 million from the change in the fair value of metal derivatives compared with a negative impact of Euro 68 million in the prior year, was Euro 386 million compared with Euro 380 million in 2008 (+1.6%). Adjusted operating income was Euro 334 million, down 30.1% from Euro 477 million in 2008 and representing a margin on sales of 9.0%, down from 9.3%.

Net finance costs improved by Euro 45 million, going to a negative Euro 52 million from a negative Euro 97 million in 2008. The decrease in finance costs reflects lower borrowing costs, a reduction in net debt and a decline in net negative exchange differences to Euro 1 million from negative Euro 32 million in 2008.

Net profit amounted to Euro 252 million, reporting a 7.5% increase from Euro 235 million in 2008 and a 6.8% margin on sales (4.6% in 2008). Adjusted net profit came to Euro 206 million compared with Euro 332 million in 2008 (-37.9%), with a 5.5% margin on sales (6.5% in 2008).

Free cash flow (levered) came to Euro 183 million (Euro 320 million in 2008) after Euro 106 million in operating investments, confirming the Group's strong cash generation even in a difficult year like 2009.

At the end of 2009, Net financial position improved to Euro 474 million from Euro 577 million at the end of 2008, with a NFP/Adjusted EBITDA ratio of 1.2x.


FOCUS ON COST REDUCTION AND INDUSTRIAL/ORGANISATIONAL EFFICIENCIES

Reduction of Euro 39 million in fixed costs (-9% vs 2008)
The Prysmian Group reported Euro 388 million in fixed costs at the end of 2009, a reduction of Euro 39 million on 2008. Cost reduction was mainly achieved through improvement of plant productivity, rationalization of organisational structure and reduction of operational costs.

Continuous generation of industrial efficiencies
The Group recorded around Euro 21 million in industrial efficiencies in 2009, achieved by paying constant attention to the efficiency of materials, by optimising logistics and production costs and by developing innovative production processes. Average annual industrial efficiencies amounted to Euro 24 million in the period 2004-2008.

FOCUS ON INVESTMENTS IN STRATEGIC BUSINESSES AND M&A

Investments for Euro 63 million in high-tech businesses
The Group invested Euro 63 million (Euro 57 million in 2008) in developing its high-tech businesses. In the high voltage business, a new manufacturing facility was opened in the USA while in China the project to modernise and expand the Baojing plant was launched. Investments were also made in cables for renewable energy, particularly those used by offshore wind farms. Lastly, activities continued to build up the new flexible pipes plant in Brazil for offshore oil drilling industry.

Acquisitions in Russia, India and the Middle East
In December 2009 the Group completed the acquisition of Rybinsk Elektrokabel in Russia, while in January 2010 it completed the acquisition of a majority stake in Ravin Cables with operations in India and the Middle East. These acquisitions are in line with the Group’s strategy to expand activities in high-growth countries and lay a base to upgrade and complete the product range in these countries.

PERFORMANCE AND RESULTS ENERGY CABLES AND SYSTEMS

SIGNIFICANT GROWTH FOR SUBMARINE CABLES; RECOVERY IN NEW HIGH VOLTAGE CABLE PROJECTS
DEMAND STILL WEAK FOR POWER DISTRIBUTION AND TRADE & INSTALLERS, WITH SALES TREND STABILISATION IN SECOND-HALF
SIGNS OF UPTURN IN OGP DEMAND; STEADY GROWTH IN RENEWABLES
TOUGH MARKET FOR SHIPPING AND CRANE CABLES

Sales to third parties by the Energy Cables and Systems business amounted to Euro 3,328 million, posting an organic decrease of 17.0%. Profitability improved. Adjusted EBITDA amounted to Euro 372 million (Euro 493 million in 2008), with margin on sales rising to 11.1% from 10.6% in 2008. Adjusted operating income came to Euro 309 million (Euro 435 million in 2008), with margin on sales basically stable at 9.3% from 9.4% in 2008.

Utilities
Sales to third parties by the Utilities business amounted to Euro 1,598 million, reporting an organic decrease of 13.9%. The higher value-added segment of power transmission accounted for 55% of total sales, with an order book of approximately Euro 900 million at the end of 2009 (approximately one year sales). In terms of profitability, adjusted operating margin on sales reported a significant improvement, rising to 14.7% from 12.6% in 2008, with a sharp acceleration in the fourth quarter (16.2%) thanks to strong submarine cable performance.

Prysmian confirmed its worldwide leadership in the submarine energy cables and systems segment, achieving a positive organic growth of around 10%. The Group is developing several major projects like SAPEI in Italy, GCCIA in Bahrain, Transbay in the USA, Cometa in Spain and Doha Bay in Qatar, and at the end of 2009 was awarded a new contract of Euro 300 million to develop the new Sicily-Italian mainland submarine transmission system, one of the world's biggest projects of this kind. New projects were also acquired in the fast expanding sector of renewable energy: in 2009 new contracts to supply cables to the Ormonde and Walney offshore wind farms were secured, in addition to projects currently under execution like Greater Gabbard and Thanet, among the largest in the world. At the end of 2009 the order book for submarine cables covered production capacity for the two subsequent years.

Demand for high voltage underground cables showed signs of recovery in the second half of the year and the larger utilities restarted work on new projects that had been suspended during the crisis. The order book provides sales visibility for the first part of the year. The acquisitions in Russia and India will allow the Group to further consolidate its world leadership in this sector.

Volumes in the power distribution segment reported a general stabilisation in the second half of the year. Prysmian faced the persistent weakness in demand by continuing to focus on innovation, with its revolutionary, high performance P-Laser cable which reached the final stage of industrialisation and marketing: contracts were signed with major utilities and the first 1,000 km of cable were delivered.

Trade & Installers
Sales to third parties by the Trade & Installers business amounted to Euro 1,020 million, posting an organic decrease of 21.5%. Despite continued sector weakness, the second-half organic change in sales, although still negative relative to the prior year, was considerably better than in the first half of the year. Volumes also showed signs of recovery in the second half, particularly in countries like Turkey, South America and Germany, while countries like Spain and Great Britain continued to be depressed. Prysmian sought to limit the decline in sales volumes as far as possible by selectively acting on the product portfolio, particularly through increased penetration of higher value-added products: sales of LSOH/Afumex fire-resistant cables rose to around 14% of the total. Adjusted operating margin on sales went to 2.5% from 6.1% in 2008.

Industrial
Sales to third parties by the Industrial cables business amounted to Euro 628 million, reporting an organic decrease of 16.1% although with an improving trend in the fourth quarter. Orders in the Oil & Gas segment recovered in the second half after a weak first part of the year, while the renewable energy sector confirmed a steady upward trend. Small but positive signs of improvement were also seen in the second half of the year in the automotive segment. Adjusted operating margin on sales was 7.3% from 9.4% in 2008.

PERFORMANCE AND RESULTS TELECOM CABLES AND SYSTEMS

DEMAND RECOVERY IN SECOND-HALF FOR OPTICAL CABLES
INCREASED PRESENCE WITH LARGE INCUMBENT IN CHINA AND USA
GROWTH OF THE BROADBAND AND FIBRE TO THE HOME APPLICATIONS

Sales to third parties by the Telecom Cables and Systems business amounted to Euro 403 million, reporting an organic decrease of 20.7% on 2008. The reduction was primarily attributable to the copper cables segment, while the optical cables showed signs of volumes recovery in the second-half, particularly in the growing Chinese market, where Prysmian signed important contracts with the largest local telecom operators, and in the USA, where Prysmian increased its presence with large incumbents. Adjusted operating income came to Euro 25 million compared with Euro 45 million in 2008, with the margin on sales decreasing to 6.1% from 8.4% of sales.

The FTTx segment proved fairly lively in 2009, particularly thanks to investments by alternative operators. Prysmian has entered an important agreement with Cabelte Cabos Electricos e Telefonicos S.A., a Portuguese company, to develop and sell FTTx solutions in Portugal, Angola and Mozambique.

Telecom
PERFORMANCE AND RESULTS BY GEOGRAPHICAL AREA


The Group's sales in EMEA (Europe, Middle East and Africa) reported an organic decrease of 15.0%, mainly due to lower volumes in the Trade & Installers, Power Distribution and Telecom businesses. The downward trend in sales showed signs of stabilization in the last quarter, even if not strong enough to mark a real trend of recovery. EMEA accounted for 70.6% of total sales in the year.
Sales in North America posted an organic decrease of 40.3%, principally due to the drop in Power Distribution sales, and accounted for 9.4% of the Group's total sales in the year.
Latin America posted an organic decrease in sales of 13.4%, primarily attributable to the Trade & Installers segment, while sales volumes in the OGP cables segment showed signs of improvement in the second half of the year. The region accounted for 9.8% of total sales in 2009.
Asia Pacific reported an organic decrease in sales of 9.7%. This contraction mainly concerned the Power Distribution segment in the Southeast Asia markets (Malaysia and Indonesia). High voltage sales increased in China. Asia Pacific accounted for 10.2% of total sales in 2009.

BUSINESS OUTLOOK

The economic context in 2009 confirmed the weakness already experienced during the previous year and which became considerably worse from September 2008 due to the crisis affecting certain international financial institutions. Following intervention by national governments and central banks, the fall in demand and in industrial output stabilised in the second part of 2009 at record lows for recent years.
Given this economic scenario, in 2010 the Group expects demand stabilization, at the minimum levels reached in 2009, for the Trade & Installers and Power Distribution businesses and for certain products in the Industrial segment more exposed to cyclical trends, with a possible gradual recovery towards the end of the year. While orders for power transmission projects and for optical fibre cables are expected to recover during the year.
The Group also continues to rationalise and improve efficiency in its industrial footprint and to optimise its cost structure, while confirming its investment plans already started in the high value-added businesses to further strengthen its presence in the most profitable, high-growth segments.

FURTHER RESOLUTIONS BY THE BOARD OF DIRECTORS

The Board of Directors gave management the authority to be able to go ahead, depending on market conditions - with the issue in 2010 and in several individual stages if necessary - of a bond reserved for institutional investors. The bond issue has the purpose of diversifying the Company's sources of financing and lengthening the average maturity of its debt. The Board of Directors has approved the issue for up to a maximum nominal amount of Euro 400 million, and set the maximum term for individual issues at 7 years. The bonds will be quoted on the Luxembourg Stock Exchange and/or another regulated or unregulated market other than Luxembourg. The final terms and pricing of the individual issues will be set according to existing market conditions and published accordingly.

Directors independence
Based on statements made by the directors, the Board of Directors reports that it has reviewed their independence requirements, in accordance with the Self-Regulatory Code for listed companies, and confirms that the directors Wesley Clark, Fabio Labruna, Giulio Del Ninno and Udo Günter Werner Stark continue to satisfy these requirements.

Calling of shareholders' meeting
The Board of Directors has given the Chairman and the CEO several authority to perform all the formalities required to call the Shareholders' Meeting on 13 April 2010 (first call in ordinary session and extraordinary session) or 14 April 2010 (second call in extraordinary session) or 15 April 2010 (third call in extraordinary session and second call in ordinary session).
Based on the results for 2009, the Board of Directors will recommend to the forthcoming Shareholders’ Meeting that a dividend of Euro 0.417 per share be declared, with a total pay-out of Euro 74 million.
If approved, the dividend will be paid out from 22 April 2010 to those shares outstanding on the ex-div date of 19 April 2010.

Amendment of the stock option incentive plan and amendment of the by-laws
Having heard the favourable opinion of the Compensation and Nominations Committee, the Board of Directors has resolved to adopt an amendment to the incentive plan approved by the Shareholders' Meeting on 30 November 2006. This amendment - which will be submitted for the approval of the forthcoming Shareholders’ Meeting in accordance with art. 114-bis of Legislative Decree 58/98 - will introduce new four option exercise periods, solely for beneficiaries still in the Group's employment. If approved by the shareholders, this amendment will make vested but unexercised options and options that will vest in future, exercisable until the thirtieth day after publicly announcing the approval of the Company's separate financial statements for the year ended 31 December 2012. All the other terms of the plan remain the same.
The proposed amendment of the incentive plan will be accompanied by a proposal to extend the term of the capital increase by Prysmian S.p.A. relating to this plan, involving a consequent revision of article 6 of the Company's by-laws.
The information memorandum relating to the plan and report on the amendments to the by-laws will be published within the required deadline.

Change in financial calendar for 2010
By way of partial amendment to the financial calendar published on 20 January 2010, the meeting of the Board of Directors to approve the interim management statement at 31 March 2010 has been moved from 6 May 2010 to 13 May 2010. The dates of all the other corporate events in 2010 remain the same.

The Annual Report at 31 December 2009 will be filed at the Company's registered offices in Viale Sarca 222, Milan and with Borsa Italiana S.p.A. in compliance with relevant regulations. It will also be available on the corporate website at www.prysmian.com.

This document may contain forward-looking statements relating to future events and operating, economic and financial results of the Prysmian Group. By their nature, forward-looking statements involve risk and uncertainty because they depend on the occurrence of future events and circumstances. Therefore, actual future results may differ materially from what is expressed in forward-looking statements as a result of a variety of factors.

Mr. Pier Francesco Facchini, manager responsible for preparing corporate accounting documents, hereby declares, pursuant to par. 2 art. 154-bis of Italy's Unified Financial Act, that the accounting information contained in this press release corresponds to the underlying documents, accounting books and records.
This Press Release is not an offer for the purchase of bonds in the United States. The bonds have not, and will not, be registered as per the United States Securities Act of 1933, as modified ("Securities Act"), or in the terms of any financial regulation in any of the states of the United States, or on behalf or to the benefit of a "U.S. person", as per the definition given by Regulation S of the Securities Act, unless within the limits of applicable exceptions, i.e., an operation not subject to registration requirements under the Securities Act.
This Press Release is not a public offer of financial products in Italy, as per art. 1, para. 1, letter. t), of Legislative Decree 58 of 24 February 1998 ("TUF"). This Press Release is not an offer of sale or an invitation to invest in financial products. The documentation relating to the offer will not be subject to the approval of CONSOB.
Moreover, bonds may not be sold in any country or jurisdiction in which such an offer might be considered illegal. No action has or will be taken to permit a public offer of the bonds under any jurisdiction, including in Italy.
Save for the obligations of the Issuer pursuant to article 114 of TUF, this Press Release is exclusively aimed at subjects (i) outside the United Kingdom; (ii) with professional credentials in maters pertaining to financial investments, as per art. 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as modified ("Order") or (iii) covered by the definition of art. 49, second para. from a) to d) of the Order or (iv) those to whom this Press Release may be sent without violating the terms of article 21 of the Financial Services and Markets Act 2000 (collectively identified as "relevant persons"). This Press Release is aimed solely at such relevant persons who may not pass it on to others. All forms of investment referred to by this Press Release are exclusively reserved to relevant persons and may only be effected by relevant persons.

This Press Release (and the information contained herein) is not for publication or distribution, either directly or indirectly, in the United States
.


Prysmian
A leading player in the industry of high-tech cables and systems for energy and telecommunications, the Prysmian Group is a truly global business with more than Euro 3.7 million in sales in 2009 and a strong position in higher value-added market segments. With its two businesses, Energy Cables & Systems (submarine and underground cables for power transmission and distribution, for industrial applications and for the distribution of electricity to residential and commercial buildings) and Telecom Cables & Systems (optical cables and fibres and copper cables for video, data and voice transmission), Prysmian boasts a global presence with subsidiaries in 39 countries, 56 plants in 24 countries, 7 Research & Development Centres in Europe, USA and South America, and around 12,000 employees. Specialising in the development of products and systems designed to customer specification, Prysmian's key strengths include: a focus on Research & Development, the capacity to innovate products and production processes, and the use of advanced proprietary technologies. Prysmian is listed on the Milan Stock Exchange in the Blue Chip index.


Media Relations
Lorenzo Caruso 
Marketing & Corporate Communications Director 
Ph. 0039 02 64491 
lorenzo.caruso@prysmian.com 

Investor Relations
Luca Caserta
Head of Investor Relations
Ph. 0039 02 64491
luca.caserta@prysmian.com  

]]>
Wed, 3 Mar 2010 11:15:00 +0100
<![CDATA[Prysmian to showcase latest FTTH R&D results at Lisbon conference]]> Prysmian, world leader in the energy and telecommunications cables industry, will this week unveil the latest rewards of its focus on FTTH Research and Development, when it appears at the FTTH Council Conference in Lisbon next 24-25th February.

Among the showcase products on display will be significantly reduced size optical cables - including 720 fibre designs with less than 16mm diameter – which are already available for use worldwide in metropolitan access networks where duct space is at a premium. The range is enhanced with smaller size, lower fibre count products for final customer connections.

On the fibre side, Prysmian has refined its CasaLight™ family of bend insensitive optical fibres, ensuring compliance with the toughest ITU G657 requirements, allowing fibre bending down to a radius of 5mm whilst maintaining full compatibility with the fibre and connection requirements presented by existing infrastructure build. The cables and fibres are complemented by a comprehensive range of connectivity products all designed with both reduced size and cost as fundamental criteria.

“Customer access is a prime area of our business globally and the Lisbon conference is the ideal venue to show the market just what major advances Prysmian and its R&D teams are bringing to the market,” said Prysmian Telecom’s director Hakan Ozmen.

The Prysmian team will be demonstrating the full range of FTTH solutions on Stand G9 at the FIL, Feira Internacional de Lisboa, Portugal.



PRYSMIAN
A leading player in the industry of high-technology cables and systems for energy and telecommunication, the Prysmian Group is a truly global company with sales exceeding Euro 5 billion in 2008 and a strong position in higher value-added market segments. With its two businesses, Energy Cables & Systems (submarine and underground cables for power transmission and distribution, for industrial applications and for the distribution of electricity to residential and commercial buildings) and Telecom Cables & Systems (optical cables and fibres and copper cables for video, data and voice transmission), Prysmian boasts a global presence with subsidiaries in 38 countries, 53 plants in 21 countries, 7 Research & Development Centres in Europe, USA and South America, and over 12,000 employees. Specialising in the development of products and services designed to meet customers’ specific requirements, Prysmian's key strengths include: a focus on Research & Development, the capacity to innovate products and production processes, and the use of advanced proprietary technologies. Prysmian is listed at the Milan Stock Exchange in the Blue Chip index.


Communication Department
Lorenzo Caruso - Communication Director
Ph. +39 02 6449.1
Email: lorenzo.caruso@prysmian.com

 

Marketing Department
Richard Thomas – Marketing Director
Ph. +39 02 6449.1
Email: richard.thomas@prysmian.com



]]>
Mon, 22 Feb 2010 11:15:00 +0100
<![CDATA[Prysmian to target growth in fast developing FTTH (Fibre To The Home) market]]> Prysmian Telecoms Business Director Hakan Ozmen to lead presence at the FTTH council Europe conference in Portugal as market prepares for major investment boost, with alternative operators driving growth across Europe

Prysmian Telecom Cables, one of the world’s leading companies in the development and delivery of FTTH (Fibre To The Home) solutions, aims at reinforcing its role as a market leader in the fast growing sector of FTTH, focusing on product innovation and expansion across world markets. The company will highlight its position by presenting the most comprehensive range of solutions it has ever displayed when it appears at the 7th FTTH Council Europe Conference in Lisbon on February 24/25th .
“FTTH is now a reality in much of Europe with Prysmian playing a major role in the market thanks to its product and service innovation capability. We are also seeing clear signs of FTTH deployment in the developing markets and are now active in a number of interesting regions such as Russia, the Baltics and parts of the Middle East. FTTH should not be confined only to the developed, mature telecoms markets such those of Western Europe. It is a technology applicable to everyone. We are committed to the concept of FTTH and are determined to take our new products to these less traditional locations so that it also becomes available to everyone” said Mr Hakan Ozmen, global telecoms business director.

Prysmian’s heritage dates back to the earliest days of telecom cables and the company’s global reputation for world-class solutions is again highlighted by products such as the CasaLight™ family of bend insensitive fibres and VertiCasa™, the MDU (multi dwelling unit) cabling.

The event comes just two months after Prysmian signed an agreement with Portugal-based Cabelte Cabos Electricos e Telefonicos S.A., under which they will jointly develop and market FTTH solutions in Portugal and brings together the strength of Cabelte's local production of optical fibres and fibre optic cable together with the experience and broad portfolio of solutions provided by Prysmian in the field of passive optical networks.
“Portugal is one of the fastest growing fibre rich environments in the region. Plans are in place to provide maximum fibre penetration into the access network which will give high speed broadband services to the majority Portugal’s inhabitants over the next few years,” added Mr. Ozmen.

With Portugal currently one of Europe’s brightest stars in terms of FTTH roll-out, it is entirely appropriate that this prestigious conference is being held in the historic city of Lisbon. As recently confirmed by the Council, the number of homes passed by FTTH networks has increased fivefold inside the last year, putting Portugal firmly in the top division of European FTTH adopters, with more than a million homes now within easy reach of a fibre connection.
In addition to exhibiting, Prysmian’s Product Manager, Networking Solutions, Alessandro Pirri, will give a presentation highlighting the challenges of upgrading old industrial areas in some European cities against a backdrop of energy saving needs and eco-compatibility requirements whilst providing systems which will deliver the growing broadband needs of today and tomorrow.

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Tue, 16 Feb 2010 16:46:00 +0100
<![CDATA[Prysmian to strengthen its presence in the Middle East Region]]> The leading worldwide player in the cable industry will play a major role at the coming
“Middle East Electricity” exhibition in Dubai (Feb. 9-11th) by presenting its new strategy,
organization and whole range of energy and telecom cables

Middle East is a key region for Prysmian’s growth strategy. The company has been involved in
several projects like the new Doha Bay submarine power link, FP cabling of constructions and
infrastructures (Burj Khalifa; Abu Dhabi FC), cables for major OGP developments

Prysmian Cables & Systems, leading worldwide player in the energy and telecommunications cables market, confirms Middle East as a strategic growth market by further strengthening its presence in the Region. On the occasion of Middle East Electricity (MEE) 2010, the largest tradeshow dedicated to the electrical industry in the Middle East, the Company will present its new organization and development strategy, as well as giving an overview of major power and telecom cabling projects in the Region.
MEE 2010 comes at a time of important developments for Prysmian’s presence in the Region, following the acquisition of Ravin Cables LTD, a cable manufacturer operating both in India and the Middle East. Thanks to this deal also U.A.E. Power Plus Cable Co. LLC, a JV between Ravin and the Government of Fujairah, becomes part of the Prysmian’s Group. PPC has a modern plant already equipped to produce high voltage cables up to 220 kV. In the Middle East region, Prysmian has offices and facilities in Dubai and Abu Dhabi (UAE), Doha (Qatar), Manama (Bahrain) and Kuwait.
At its booth (Stand 3A20, Hall 3), Prysmian will display its broad range of state-of-the-art power cables including HV & Submarine cable systems for applications such as interconnections between power grids, links between natural or artificial islands and the mainland, and connections to, or between, off-shore oil production facilities. Prysmian will as well be presenting a wide range of cables and systems for the Oil, Gas and Petrochemical industry – complex and integrated power, control and instrumentation systems for oil fields and chemical, petrochemical, power or industrial plants. The range includes the innovative AirguardTM Cable System, specially developed to offer significant improvement in the mechanical protection of cables. In addition it provides the same level of protection against aggressive fluids such as hydrocarbons, oils, fuels, acids and bases. The product portfolio on display will be complemented by the FP® range of fire resistant cables, designed and manufactured to meet the most demanding requirements and standards to ensure safety and safe operation under conditions of fire.
In the Middle East region, Prysmian has carried out and completed several strategic power cable projects, particularly in UAE, Qatar and Bahrain. These include both the development of the first-ever submarine power transmission link serving Doha and the new 400 kV High Voltage underground grid connection on behalf of Qatar General Electricity & Water Corporation (KAHRAMAA); the recently commissioned GCC Saudi-Bahrain submarine interconnection; several projects in the Oil and Gas industry like the recently acquired Livorno FPSO (Dubai Dry Docks) and important construction and infrastructure Fire Resistant cabling projects such as the newly-inaugurated Burj Khalifa and the Abu Dhabi Financial Centre.

Media Relations
Lorenzo Caruso
Communication Director
Ph. 0039 02 6449.1
lorenzo.caruso@prysmian.com  


Investor Relations
Luca Caserta
Head of Investor Relations
Ph. 0039 02 6449.1
luca.caserta@prysmian.com

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Fri, 5 Feb 2010 12:14:00 +0100
<![CDATA[Prysmian Reaches 150,000 Km Installed Base For OPGW]]> OPGW cable forms an integral part of an overhead electricity network, performing both the primary function of a conventional earth conductor together with the provision of a state-of-the-art communications link thanks to the optical fibres contained within.
The milestone project is being carried out with one of the main power utilities in Eastern Europe, with the cable manufactured at Prysmian's main facility at Vilanova, near Barcelona together with the production unit in Soracaba, Brazil. The optical fibres within the cable were also produced by Prysmian at the company’s facility in Battipaglia, Italy.
Since supply of OPGW began in 1984, Prysmian’s aluminum tube technology design has continued to demonstrate its superior performance and long term reliability in a wide range of environments in all five continents around the world and with additional OPGW production facilities in Wuxi, China, Prysmian has maintained its position as world leader in the OPGW market.
"This is an important achievement for us and confirms the commitment shown by our customers in our OPGW system over the last quarter of a century" said Mr Raul Gil, head of Prysmian’s global OPGW business. "We have now installed our system in more than 80 countries around the world and we are delighted to reach this significant point in the product's history"

PRYSMIAN
A leading player in the industry of high-technology cables and systems for energy and telecommunication, the Prysmian Group is a truly global company with sales exceeding Euro 5 billion in 2008 and a strong position in higher value-added market segments. With its two businesses, Energy Cables & Systems (submarine and underground cables for power transmission and distribution, for industrial applications and for the distribution of electricity to residential and commercial buildings) and Telecom Cables & Systems (optical cables and fibres and copper cables for video, data and voice transmission), Prysmian boasts a global presence with subsidiaries in 38 countries, 53 plants in 21 countries, 7 Research & Development Centres in Europe, USA and South America, and around 12,000 employees. Specialising in the development of products and services designed to meet customers’ specific requirements, Prysmian's key strengths include: a focus on Research & Development, the capacity to innovate products and production processes, and the use of advanced proprietary technologies. Prysmian is listed at the Milan Stock Exchange in the Blue Chip index.
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Thu, 28 Jan 2010 15:42:00 +0100