Nexans confirms the financial conditions applicable to the sale to Superior Essex of its 40% minority interest in Essex Nexans
Paris, July 3, 2007 – Nexans confirms that its 40% minority interest in Essex Nexans was sold to Superior Essex, as announced on June 28, for an amount of 22 million Euro. In addition, Essex Nexans redeemed an 11.3 million Euro subordinated note due to Nexans.
With energy as the basis of its development, Nexans, the worldwide leader in the cable industry, offers an extensive range of cables and cabling systems. The Group is a global player in the infrastructure, industry and building markets. Nexans addresses a series of market segments from energy, transport and telecom networks to shipbuilding, oil and gas, nuclear, automotive, electronics, aeronautics, handling and automation. With an industrial presence in more than 30 countries and commercial activities worldwide, Nexans employs 21,000 people and had sales in 2006 of 7.5 billion euros. Nexans is listed on the Paris stock exchange, compartment A of the Eurolist of Euronext. More information on www.nexans.com