Nexans concludes its acquisition of the power cable business of Shandong Yanggu Cables Group in China
Paris, September 3, 2012 – Nexans, a worldwide leading expert in the cable industry, announced today its acquisition of a 75% stake in the Shandong Yanggu New Rihui joint-venture, alongside its historical shareholder.
This acquisition gives Nexans a strategic footprint in the rapidly growing Chinese Energy Infrastructure market.
The transaction values the business (100% basis) at approximately 1,240 million RMB (approximately 156 million euros) on an Enterprise Value basis.
With energy at the basis of its development, Nexans, worldwide expert in the cable industry, offers an extensive range of cables and cabling solutions. The Group is a global player in the energy transmission and distribution, industry and building markets. Nexans addresses a wide series of market segments: from energy and telecom networks to energy resources (wind turbines, photovoltaic, oil and gas or mining…) to transportation (shipbuilding, aerospace, automotive and automation, railways...). Nexans is a responsible industrial company that regards sustainable development as integral to its global and operational strategy. Continuous innovation in products, solutions and services, employee development and commitment, customer orientation and the introduction of safe industrial processes with limited environmental impact are among the key initiatives that place Nexans at the core of a sustainable future. With an industrial presence in 40 countries and commercial activities worldwide, Nexans employs 25,000 people and had sales in 2011 of 7 billion euros. Nexans is listed on NYSE Euronext Paris, compartment A. For more information, please consult: www.nexans.com or www.nexans.mobi