Nexans sells its Swiss distribution activities to Rexel for 206 million euros
Paris, February 2, 2006 - Nexans, the worldwide leader in the cable industry, today announced the sale to Rexel, effective February 1, of its Swiss distribution activities (Electro-Matériel SA) for an enterprise value of 206 million euros. Electro-Matériel SA is Switzerland's leading wholesale distributor of electrical products and appliances.
“Through this sale, we are actively pursuing our strategy of refocusing our product portfolio on our cable business,” said Gérard Hauser, Chairman and CEO of Nexans.
In 2005, Electro-Matériel SA had sales of 189 million euros.
As of December 31, 2005, the company had 396 employees.
As a result of the sale of Electro-Matériel, Nexans will record a capital gain of approximately 150 million euros in the first half of 2006.
Nexans is the worldwide leader in the cable industry. The Group brings an extensive range of advanced copper and optical fiber cable solutions to the infrastructure, industry and building markets. Nexans cables and cabling systems can be found in every area of people’s lives, from telecommunications and energy networks, to aerospace, automotive, railways, building, petrochemical, medical applications, etc. With an industrial presence in 29 countries and commercial activities worldwide, Nexans employs 20,000 people and had sales in 2005 of 5.4 billion euros. Nexans is listed on the Paris stock exchange. More information on www.nexans.com
The world's premier electrical equipment retail network, Rexel has 1,686 branches in 24 countries. The Group has 21,000 employees and generated sales of 7.4 billion euros in 2005.