Nexans concludes its acquisition of Intercond
Paris, August 1st, 2008 – Nexans, the worldwide leader in the cable industry, announces the closing of its acquisition of the Italian company Intercond, a leading European manufacturer of special cables, mainly for industrial equipment including subsea activities.
This acquisition, announced on May 29, reinforces the Group’s leadership in the fast-growing industrial cable activities.
The acquisition was realized for an Enterprise Value of 90 million euro
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, building and Local Area Network markets. Nexans addresses a series of market segments from energy, transport and telecom networks to shipbuilding, oil and gas, nuclear power, automotive, electronics, aeronautics, handling and automation. With an industrial presence in 39 countries and commercial activities worldwide, Nexans employs 22,800 people and had sales in 2007 of 7.4 billion euros. Nexans is listed on NYSE Euronext Paris, compartment A. More information on www.nexans.com