Strengthening the China’s grip

Strengthening the China’s grip

The strengthening of Prysmian in China comes at the time when the Chinese Government is pushing for the “One Belt, One Road” policy

JULY 2017

With the inauguration of the upgraded HV-MV plant in Yixing, held on June 21st and attended by several guests, including Mr. Zhang Lijun, Mayor of Yixing City, and Mr. Stefano Beltrame, Italian Consul General in Shanghai, Prysmian has made its presence in the Asia-Pacific region ever more strategic, especially for the HV systems, but not only.

The Group already employs in China about 1,500 people working in 7 manufacturing plants, the most important located in Suzhou, near Shanghai. In that site the company has also an R&D centre including a Centralized Material and Testing Laboratory. It also boasts manufacturing plants in Tianjin, Yixing, Wuxi and Nantong, and sales offices in Beijing, Shanghai and Hong Kong.

With a cumulative turnover in 2016 of around €430 million a year, of which around € 130 million in the HV business, Prysmian Group is enjoying a growing strong position in a fast growing market. It further strengthened its grip and increased its independence on the market with the acquisition of the new facilities in Yixing, after it divested last year its 67% share in a Joint Venture.

Prysmian Group is aiming at becoming a major player in the 21st century ‘Silk Road’, offering innovative systems both for energy and telecom projects

 

Fabio Romeo, Prysmian’s Chief Strategy Officer, stated: “This part of the globe is growing fast, faster than other parts of the world, and we think our know-how and technology can make the difference. The Chinese market is really challenging, here the competition is strong, but we are working hard to succeed.” Luigi Migliorini, CEO of Prysmian Group China, added that “Prysmian Group can now offer a wide range of cable technologies and products, including Extra High Voltage and High Voltage cable systems, as well as Medium Voltage and Fire Resistant cables, from 6kV to 500kV. The new plant will be capable of producing all the main designs available in the HV systems sector”.

“The Chinese market is really challenging, here the competition is strong, but we are working hard to succeed”

Fabio Romeo

Prysmian Group Chief Strategy Officer

The strengthening of Prysmian in China comes at the time when the Chinese Government is pushing for the “One Belt, One Road” policy, the project stemmed from hundreds of years of commercial trading between China and Middle East and the Western countries. Prysmian Group, thanks also to the new investments in Prysmian Technology Jiangsu, is aiming at becoming a major player in the 21st century ‘Silk Road’, offering innovative systems both for energy and telecom projects.

The inauguration of the renewed plant in Yixing was followed by the plantation of few olive trees that also in China, as everywhere in the world, mean peace and prosperity, as Prysmian took the occasion to mix Chinese and Italian traditions, and match two of the oldest and richest cultures of the world. The plant was acquired for about €42 million ( plus taxes in the region of approx. €4 million ) by Prysmian Technology Jiangsu, 100% owned by the Group’s holding company in China. It is located in Yixing, a city with more than 1.2 million inhabitants near Shanghai. The manufacturing and logistics facilities consist of an area of more than 190,000 sqm and 5 production lines  with a production capacity of over 20,000 tons per year.