JUNE 25, 2008 -- Prysmian Cables & Systems (search for Prysmian) says that it has targeted 50% growth of its business in China by 2010, with new investments also planned to increase in-country production capacity. The investments made in China over the last few years and those outlined in the plan amount to approximately 100 million Euro. Many of these focus on fiber-optic cable.
Included in Prysmian's growth strategy in China is the implementation of a new organizational and company structure, with the creation of a holding company that will link the group's five main companies operating in the country, with five production facilities and over 1,000 employees. Prysmian also will leverage a new production plant for industrial cables in Tianjin, which will be inaugurated June 26. Prysmian also has located its Chinese headquarters in newly opened offices in Beijing, where the new holding company, Prysmian China Investment Co Ltd., has been established.
Prysmian's growth strategy in China is focussed on development in the higher added value and technology content sectors, which could benefit from strong economic growth and ongoing investments in infrastructures promoted in the country. In particular, the company will focus on opportunities in high-voltage networks, special cables for industrial applications, and fiber-optic telecom cables.
In the Telecom cables sector, Prysmian plans to develop the Chinese domestic market (currently the most significant part of the company's Wuxi plant's production is exported), in particular through the supply of fiber-optic cables for the development of local telecom networks and fiber to the home.
In the industrial cables sector Prysmian's growth strategy will leverage its new Tianjin plant.
Visit Prysmian