2012 Sustainability Report
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| prysmian group | 2012 Sustainability Report
Many of the significant events that took place during
the year were of strategic importance for the future
development of the business, both in commercial and
organisational terms. The major contracts obtained will
contribute great value, as will the purchase of businesses
that reinforce the Group's leadership. The highlights are
indicated below.
February
: The Prysmian Group won the contract for
the Western HVDC Link, the highest value project ever
assigned in the cables sector. The new submarine
electricity link between Scotland and England represents
a technological challenge in terms of both the required
voltage (600kV) and capacity (2,200 MW).
February
: Draka Elevator cables were chosen for the
elevators in the new World Trade Center in New York City.
The Prysmian Group will provide a vast range of cables and
accessories for the installation of more than 100 elevators.
February
: The squeeze-out procedure envisaged by the
Netherlands Civil Code was completed in relation to
the residual ordinary shares in Draka Holding N.V. The
Prysmian Group currently owns the entire share capital of
Draka Holding N.V.
HISTORY - A journey that began two centuries ago.
With over 130 years of combined experience, Prysmian
and Draka have a long history of satisfying the needs of
customers as their primary objective.
The history of our business is intertwined with that of
the cable industry as a whole, with major milestones
that have consolidated our reputation as a pioneer in the
sector.
At the start of the 20th century, the predecessor of
Prysmian achieved international recognition by working
on several high profile projects to lay 5,150 km of
telegraph cable across the Atlantic from Italy to America,
as well as to link North Africa with Brazil and install
a submarine telephone line between Brazil and Italy.
Around the same period, in 1910, the company that later
become Draka was founded.
Both companies expanded by internal growth between
1900 and 1950, broadening their product ranges and
opening factories in such strategic markets as Spain, the
United Kingdom, North America, Argentina and Brazil.
Another key moment in the history of Draka came in
1970, with the purchase of the company by Philips N.V.,
as part of its Wire & Cable division.
With Drake independent once again, the 1990s saw
both companies engaged on acquisitions followed by
major restructuring work, with a view to expanding their
industrial and commercial activities. Prysmian was listed
on the Milan Exchange's FTSE MIB in 2007 and became
a true public company three years later. The assets and
know-how accumulated in more than a century of history
allow the company to pursue growth in markets and
businesses with a high degree of value added.
The Prysmian Group was established in 2011, on the
union of Prysmian and Draka. The combination of the
two market leaders gave birth to a new world leader in
the cables sector: the Prysmian Group.
KEY EVENTS DURING THE YEAR
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Prysmian group
