New Organisation To Be Implemented For Integration With General Cable

HIGHLAND HEIGHTS, Ky., June 11, 2018 /PRNewswire/ -- Prysmian Group announces the launch of its new organisation and begins its integration with General Cable. The newly created Group is a world leader in the energy and telecom cable systems industry with global headquarters located in Milan, sales of over €11 billion (pro-forma as of 31.12.2017) and approximately 30,000 employees at 112 plants and 25 R&D centres in over 50 countries. The integration with General Cable enables further expansion of the range of technologies and products offered by Prysmian Group.

The shift in the balance of the weights of the various geographical areas is significant: North America will now account for approximately a third of the Group's sales, with the North American head office located in Highland Heights, Kentucky, and 23 plants throughout the Region with about 5,800 employees.

"We are proud to have established our second home Region in the United States, contributing to the development of the country's economy with our best technologies and expertise. Today, we begin to operate as a single team with shared objectives," stated Valerio Battista, Chief Executive Officer of Prysmian Group. "Integrating the two companies' cultures, business segments, geographical markets, production facilities and staff functions. Protecting our business and creating value: these are our priorities."

The new organisation combines the strengths of both Prysmian and General Cable and is based on centralised governance and integrated management of global businesses, clear responsibilities for results, a focus on efficiency and technological innovation and a customer-centric approach enabled by teams dedicated to key customer accounts.

The new organisational matrix model is structured along 3 lines: the Group's centralised functions, which aim at fostering the creation of a highly integrated "One Company"; the Regions, which ensure proximity to the market; and the Business areas (Energy, Telecom and Projects), which are responsible for product and cross-selling strategies.

"With the aim of identifying and retaining top talent, we conducted a thorough selection process based on the 'best people for the job' principle, ensuring equal opportunities to people from Prysmian and General Cable. The result is an international management team composed of 450 people who from the outset have been given clear responsibilities and precise objectives," explained Fabrizio Rutschmann, Chief Human Resources Officer.

Prysmian Group
Prysmian Group is world leader in the energy and telecom cable systems industry. With almost 140 years of experience, sales exceeding €11 billion (pro-forma as of 31.12.2017), about 30,000 employees in over 50 countries and 112 plants, the Group is strongly positioned in high-tech markets and offers the widest possible range of products, services, technologies and know-how. It operates in the businesses of underground and submarine cables and systems for power transmission and distribution, of special cables for applications in many different industries and of medium and low voltage cables for the construction and infrastructure sectors. For the telecommunications industry, the Group manufactures cables and accessories for voice, video and data transmission, offering a comprehensive range of optical fibres, optical and copper cables and connectivity systems. Prysmian is a public company, listed on the Italian Stock Exchange in the FTSE MIB index.

Prysmian Group North America
Prysmian Group serves both the telecom and energy cable markets in North America with 5,800 employees at 23 plants across the continent and sales of over $1.5 billion in 2016. Its telecom cables and systems unit produces a range of high-quality optical fibers, optical cables and connectivity for video, data and voice transmission. In the energy sector, Prysmian offers end-to-end underground cables solutions for the transmission and distribution of low, medium, high and extra high voltage systems. Prysmian Group has two fiber optic manufacturing facilities in the United States, including the only co-located fiber and cable facility in North America. Prysmian Group is a public company, listed on the Italian Stock Exchange in the FTSE MIB index.

SOURCE Prysmian Group