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39. SUBSEQUENT EVENTS
New submarine link between the Netherlands and Denmark
On 1 February 2016, Prysmian Group was awarded a new contract worth around Euro 250 million for an
HVDC (High Voltage Direct Current) submarine link between the Netherlands and Denmark, by TenneT TSO
B.V. and Energinet.dk SOV, the respective operators of the Dutch and Danish power transmission grids. The
COBRAcable ("COpenhagen BRussels Amsterdam" cable) will benefit the electricity grids in both countries
concerned, by making Dutch capacity structurally available to Denmark and vice versa, by making the
electricity supply more secure and by allowing connection to renewable energy sources at a later stage.
The COBRAcable will contribute to the creation of a sustainable international energy landscape, a key aim of
the European Union, which is supporting the project through the EEPR (European Energy Programme for
Recovery). The cable will be constructed using HVDC technology, which minimises transmission losses over
long distances.
The cable will be produced at the plants in Arco Felice (near Naples, Italy) and Pikkala (near Helsinki,
Finland), while submarine cable laying will be performed by the "Giulio Verne" and the "Cable Enterprise",
the Group's own cable-laying vessels. The cable system is scheduled for delivery in the third quarter of 2018.
Plant closures
On 29 January 2016, Prysmian Câbles et Systèmes France presented the trade unions with a plan for the
closure of the Anjy plant, currently employing 74 people, and the transfer of its production for the automotive
business to the Velke Mezerice site. The plan also envisages investing in the nearby Draka Fileca plant in
Sainte Genevieve, whose products serve the aviation industry, and which will involve the creation of 25 new
jobs. At the same meeting, a plan was also presented to cease production at the Xoulces plant, employing
76 people, and to transfer it to the nearby plant in Neuf Pré, which produces accessories; the idea is to
create a centre of excellence for accessories production in a more suitable facility than at present, while
adding 38 jobs to this plant's existing workforce of 60.
Discussion of these plans will proceed in the manner established by the relevant legislation.
Creation of the Oil & Gas Business Unit
In January 2016, the Group modified its organisational structure with the creation of an Oil & Gas business
unit, comprising the SURF and Oil & Gas businesses. The new organisational structure will facilitate the
creation of synergies between the two businesses and allow major customers to be managed more
efficiently.
The possible impacts on the segment reporting structure are currently being evaluated; this evaluation will be
completed in the course of 2016.
Milan, 24 February 2016
ON BEHALF OF THE BOARD OF DIRECTORS
THE CHAIRMAN
Massimo Tononi