Nexans closes groundbreaking service level contract with Equinor
Projects
22 April 2024
2 min
CLV Nexans Aurora
  • Nexans and energy company Equinor strengthen their long-term collaboration with a four-year contingency and preparedness contract.
  • Nexans’ unique and extensive repair expertise covers all types of existing cables
  • The contract includes assistance from a team of Nexans experts and the provision of a vessel to meet the intervention requirements.

Nexans has signed a contingency and prepardness contract with international energy company Equinor.

As an international energy group committed to creating long-term value for a low-carbon future. Equinor has a long-standing relationship with Nexans which has resulted in a number of pioneering projects.

Nexans is extending this collaboration through a 4-year agreement that includes turnkey repair services for various cable systems. Equinor will manage and operate the contract on behalf of the Pipeline Repair and Subsea Intervention (PRSI) Pool members. The agreement covers approximately 3,000 km of cable.

To ensure Equinor’s assets’ normal functioning, Nexans will provide its unique expertise of performing complex turnkey repairs on all types of cables (XLPE, mass impregnated or oil-filled cables).

In the case of a cable system failure, Nexans will offer its expertise of installing and maintaining submarine cable systems by mobilizing highly-skilled teams to assess the fault and perform any necessary repairs. Nexans is committed to finding the most suitable solution and intervene as quickly as possible, ensuring continuity of power transmission. The areas of operation are located in Northern Europe but can be broadened according to the clients’ needs.

Pascal Radue

Equinor is a forward-looking company with strong environmental and social values. The approach our two companies take in working together is an example of effective partnership. The teams are dedicated to delivering an assistance service tailored to Equinor and the PRSI pool members’ requirements.

Pascal Radue

EVP of Generation and Transmission Business Group, Nexans

Renewal and appointment on Nexans Board of Directors to be proposed at the Shareholders’ Meeting to be held on May 16th, 2024
Board
20 March 2024
2 min

Upon recommendation of the Appointments and Corporate Governance Committee, the Nexans Board of Directors has resolved today to propose to the shareholders’ meeting to be held on May 16th, 2024: (i) the renewal of Jane Basson as an independent director and (ii) the appointment of Tamara de Gruyter as an independent director succeeding to Sylvie Jéhanno who is leaving the Board due to her increasing other engagements.

In addition, Tamara de Gruyter is appointed Censor, effective today. In such role she will attend all Board of Directors meetings and be bound by the same obligations as directors.

Tamara de Gruyter is President Portfolio Business and member of the executive board at Wärtsilä, a leading company in Finland.

She began her career in 1996 at LIPS which was acquired in 2002 by Wärtsilä. Tamara held various managerial positions within the company both in the Marine as well as Services Business. She had been Managing Director for 2 joint-ventures in China as well as for Wärtsilä’s pump business in Singapore. Upon returning to Europe, she has held various Vice President positions before becoming Chief Transformation Officer end of 2019. Tamara has been a member of Wärtsilä’s executive board since 2020 as President of Marine Systems and Head of Portfolio Business. Since January 1st, 2024, Tamara took up the role of President Portfolio Business. She is also a member of the Board of Directors of Combient Oy.

Tamara is a graduate of the Haarlem Polytechnic and holds a Bachelor in Shipbuilding Engineering.

Jean Mouton

We are delighted to welcome Tamara at the Board today. We are convinced that her professional experience, including in the digital industry with Scandinavian companies, her international background and personality will be an asset for Nexans Board of Directors. We would also like to thank Sylvie Jéhanno for her contribution to the Board over the past four years.

Jean Mouton

Chairman of the Board of Directors, Nexans

In addition, the European Work Council has appointed Elisabetta Iaconantonio, General Accounting Specialist at the Pioltello site in Italy, as Director representing employees, succeeding to Bjorn Erik Nyborg. The Board of Directors thanks Bjorn Erik for his engagement over the past years, welcomes Elisabetta and wishes her every success in her new role.

Press releases

Read all
Nexans secures first call-off under TenneT framework agreement
19 March 2024
2 min
Nexans plant in Halden, Norway
  • Nexans secures first call-off under 2GW TenneT framework agreement
  • The project involves the EPCI of HVDC cables for the BalWin3 and LanWin4 offshore grid connection systems. Transmitting in total 4 Gigawatts (GW) of offshore wind energy from the North Sea to Wilhelmshaven in Germany (Lower Saxony).
  • This key project reinforces Nexans’ position as a leader in the European offshore wind market

Nexans, leader in the design and manufacturing of cable systems and services has secured the first call-off under the TenneT framework agreement awarded in April 2023.

This project involves the Engineering, Procurement, Construction, and Installation (EPCI) of high-voltage direct current (HVDC) cables for the BalWin3 and LanWin4 grid connection systems. Transmitting in total 4 Gigawatts (GW) of offshore wind energy from the North Sea to Wilhelmshaven in Germany (Lower Saxony).

Nexans will be utilizing its new 525 kV HVDC XLPE cable technology and implementing an innovative “four bundle” cable laying method for the first time in the Group’s history for the project installed by its new cable laying vessel.

Pascal Radue

This win strengthens our position as a leader in Europe’s energy transition, and we’re proud to partner with TenneT in building a sustainable future.

Pascal Radue

EVP Generation and Transmission Business Group, Nexans

Nexans successfully completes a €350 million bond issuance
11 March 2024
2 min

Nexans announces today the success of a bond issuance for an aggregate principal amount of EUR 350 million with a 6-year maturity and an annual interest rate of 4.25%.

This transaction has been welcomed by a diversified base of institutional fixed income investors in France and abroad and four times oversubscribed. The strong demand allowed Nexans to tighten a low coupon for a 6-year maturity with regard to market conditions.

Nexans seizes the opportunity offered by a favorable and well-oriented market environment to refinance in advance its outstanding EUR 200 million 2.75% bonds due April 5, 2024. The remaining part of the net proceeds will be allocated to general corporate purposes.

Jean-Christophe Juillard

The success of this new bond issuance confirms financial market confidence in Nexans’ strategy and robust performance. Nexans is building on its strong and lasting relation with its investors.

Jean-Christophe Juillard

Deputy CEO and CFO, Nexans

The bond is rated BB+ by Standard & Poor’s and is admitted to trading on the regulated market of Euronext in Paris as from its issue date.

Press releases

Read all
Nexans enhances portfolio in Europe with an agreement to acquire iconic La Triveneta Cavi
Acquisition
09 February 2024
3 min
Venice, Italy
  • Nexans has taken a significant leap forward in its electrification strategy by signing an agreement to acquire the iconic Italian company La Triveneta Cavi, with recognized excellence in the European medium- and low-voltage cable segments, employing 700 people across 4 production units and generating above 800 million euros in sales.
  • The Group will leverage its integrated business model and proven integration capabilities to accelerate La Triveneta Cavi’s growth in the building wire, fire-retardant and renewable energy sectors.

Nexans announces the signing of a landmark agreement to acquire iconic La Triveneta Cavi, with recognized excellence within the European medium- and low-voltage segments. Based in Italy, La Triveneta Cavi primarily manufactures low-voltage cables for building, infrastructure, fire-retardant cable systems and renewable applications across 30 countries.

Founded in 1965 by Ermenegildo Scalabrin, Gastone Massignan and Bruno Gobetti, the company employs a workforce of approximately 700 people and generated current revenues of more than 800 million euros over the last twelve months. La Triveneta Cavi operates a vertically integrated and best-in-class industrial footprint in Italy, including three cable production units featuring efficient logistical capabilities in Brendola and Tolentino, as well as one in-house copper drawing facility in Montecchio Maggiore.

Outstanding strategic benefits of this transaction include:

  • Strategy execution: The proposed acquisition is a significant leap forward in Nexans’ strategy to become an electrification pure player, adding a widely recognized player with a long standing tradition of best-in-class innovation and industrial platforms, as well as a highly experienced management team with a strong track record.
  • Customers benefits: Enhancing Nexans’ building cable portfolio to address the major market shift toward fire safety: global demand for fire safety cables is expected to grow at a c.+13% CAGR over the 2021-2030 period. Demand will continue to be supported by new safety regulations, electricity demand growth, and new build and renovation trends. Nexans will further develop La Triveneta Cavi’s experience in fire-retardant capabilities to expand the Group’s global fire safety offer.
  • A high-value transaction for Nexans’ shareholders: The addition of La Triveneta Cavi will generate synergies and thereby value for shareholders. These synergies are expected to be captured through the integration of La Triveneta Cavi’s operations into Nexans, along with the deployment of Nexans’ proven proprietary programs, SHIFT Performance and SHIFT Prime, to enhance customer centricity and value-added solutions.

The transaction represents an acquisition multiple of 5.6x La Triveneta Cavi’s 2023 EBITDA pre-synergies and 4.6x post-synergies and will be high-single-digit accretive to earnings per share (EPS) from year one. Nexans’ financing of the acquisition will have limited impact on leverage.

The acquisition of La Triveneta Cavi will be a major milestone in our journey to become a global Electrification Pure Player. Italy is the third largest economy in the Eurozone, the second largest manufacturing economy in Europe, with high skilled talents, and renowned excellences in Research and Development and industrial processes.

We are delighted to welcome La Triveneta Cavi’s 700 people within the larger Nexans family. La Triveneta Cavi will bring to Nexans more than 800 million euros in sales, 4 production units with technological platform capabilities to enhance our product portfolio, and will enable the acceleration of new sustainable offer launches in high-demand markets. The combination of Nexans and La Triveneta Cavi will be a real catalysts for a “Made in Italy” cable production in the Veneto region of Italy, that will bring significant investment and jobs for La Triveneta Cavi.

Christopher Guérin
Christopher Guérin

CEO, Nexans

Nexans will bring significant resources to further expand La Triveneta Cavi’s operations, most notably to accelerate the deployment of the fire safety technology. By combining our entrepreneurial spirit with Nexans’ pioneering and agile culture, we are poised to drive innovation and create transformative impact. Indeed, we are proud to have found the right partner capable of enhancing the work done so far by our people and continuing the development of our company.

Mariano Peripolli

CEO, La Triveneta Cavi

Closing of the transaction is subject to regulatory approvals and satisfaction of other customary closing conditions.

Press releases

Read all
Nexans achieves outstanding ‘A’ score from CDP
CSR
07 February 2024
2 min
2023-cdp-notation-banner
  • Nexans received a prestigious ‘A’ score from CDP, reflecting its steadfast commitment to climate action and environmental transparency.
  • Nexans sees positive shifts in EcoVadis and maintains its ‘A’ rating with MSCI, showcasing the company’s dedication to continuous improvement.

Nexans, a leader in the design and manufacturing of cable systems and services, has been recognized for leadership in corporate sustainability by the global environmental non-profit extra-financial agency CDP. Achieving an ‘A’ score and maintaining a position on the prestigious ‘A List’ for addressing climate change, Nexans reaffirms its dedication to environmental responsibility.

This recognition marks a significant milestone in Nexans’ journey towards sustainable electrification. The company’s unwavering commitment to climate action and environmental transparency. Noteworthy progress has been made, with this year’s achievement showcasing a commendable advancement from the ‘A-‘ rating in 2022 and 2021. Building on the initial ‘A’ rating in 2020, Nexans demonstrates a consistent commitment to climate action and environmental transparency.

Nexans’ consistent engagement to enhancing its methodology and turning commitment into action has played a crucial role in its success. The progression from ‘A-‘ to ‘A’ underscores Nexans’ proactive approach in comprehending and tackling the challenges presented by climate change, showcasing ongoing improvements.

This recognition serves as a powerful catalyst, motivating our company to intensify its endeavors and initiatives to meet the challenges of the sustainable electrification in the years ahead. I want to extend my gratitude to our dedicated team for their relentless efforts and reaffirm our commitment to driving positive change in the realms of climate action and environmental responsibility.

Christopher Guérin
Christopher Guérin

CEO, Nexans

In parallel, Nexans has made substantial advancements in its EcoVadis rating, increasing its previous score by 2 points, to reach 80/100. The enhancement observed reflects Nexans’ dedication to consistently improving its sustainable development practices. By upholding its “A” rating on the MSCI front, Nexans reasserts its steadfast commitment to achieving excellence in ESG topics.

While celebrating the achievements of 2023, Nexans remains focused on continuous improvement and to maintain and elevate its position on the global stage.

Press releases

Read all
Alcoa to supply with low-carbon aluminum, including metal from ELYSIS™ technology
Raw materials
01 February 2024
4 min
aluminum cables
  • Alcoa will supply Nexans with low-carbon aluminum rod that will contain metal from the breakthrough ELYSIS™ technology.
  • ELYSIS™ is a partnership company that is ramping up a process that eliminates all direct greenhouse gas emissions from the traditional smelting process, emitting oxygen as a byproduct.
  • Aluminum rod produced from ELYSIS™ technology will have lower CO2 emissions.

Nexans and Alcoa (NYSE:AA) announce today that Alcoa will supply Nexans with aluminum rod produced from a revolutionary process that eliminates all direct greenhouse gas emissions from the traditional smelting process.

Nexans will be the world’s first cable manufacturer to use metal from the breakthrough ELYSIS™ process, which replaces all greenhouse gas emissions with oxygen. The technology uses proprietary materials, including inert anodes, first developed at the Alcoa Technical Center near Pittsburgh. That research and development work became the technological basis for ELYSIS™, a technology partnership that is working to ramp up the process to commercial scale.

Several Nexans facilities in Western Europe and Scandinavia will use aluminum produced from the ELYSIS™ process to start qualifications for the metal’s use in various types of cables, from low, medium to high voltage. Aluminum rod produced with this breakthrough ELYSIS™ technology could eliminate a significant portion of carbon dioxide emissions in the future.

This latest announcement further builds on the two companies’ historic long-term relationship. Alcoa already supplies Nexans with EcoLumTM, a primary aluminum with a carbon footprint that is nearly three times lower than the industry average.1

Since the launch of ELYSIS™ in 2018, the technology company has produced R&D quantities of the metal. Alcoa is marketing and selling its share of the ELYSIS metal, which has also been used for the wheels on the Audi eTron GT, the automaker’s first electric sports car. Apple is also an investor in the technology and has used ELYSIS metal for some of its products.

ELYSIS is a key component in Alcoa’s technology roadmap of research and development projects that also includes projects such as the ASTRAEA™ metal purification process and the Refinery of the Future.

This agreement fully highlights Nexans’ position at the forefront of the sustainable electrification of the world and of crucial issues such as low-carbon emissions.

Alcoa is well positioned to supply low carbon aluminum for the world’s transition to renewable energy, as we know that the true impact of decarbonization will also include the choice of materials used to build the infrastructure for generation, transmission and distribution networks. While we are developing ELYSIS™ for the future, we are also supplying low-carbon aluminum today with our EcoLumTM metal, which can help customers meet their own sustainability goals and lower their carbon footprints.

Renato Bacchi

Executive Vice President and Chief Commercial Officer, Alcoa

In the fight against climate change, solutions that support the world’s energy transition make a real difference. By increasing our use of low-carbon aluminum, we want to lead the way toward a sustainable electrification of the world: the rod produced with this breakthrough technology could eliminate a significant portion of carbon dioxide emissions in the future. We are proud to be the world’s first cable manufacturer to use metal from the breakthrough technology ELYSIS.

Vincent Dessale
Vincent Dessale

Chief Operating Officer Senior Executive VP, Nexans

Press releases

Read all
Information on French Competition Authority investigation
30 January 2024
1 min

Nexans informs that the French Competition Authority is carrying out searches at three Nexans sites in France today.

The searches are part of an investigation in the sector of distribution of energy cables in the territory of DOM-TOM.

Nexans is cooperating with the French Competition Authority.

Press releases

Read all