Prysmian Group has acquired through a bankruptcy auction high voltage (HV) cable assets from a factory in China previously operated by Shen Huan Cable Technologies.
The €46m acquisition is by Prysmian Technology Jiangsu, which is owned by the Italian outfit’s Chinese holding company Prysmian China Investment.
The facilities in the city of Yixing consist of five production lines with capacity for 20,000 tons a year across a 190,000 square metre site.
The company will offer extra HV and HV cable systems, as well as medium voltage and fire protection cables from 6kV to 500kV.
Prysmian Group China chief executive Luigi Migliorini said: “Thanks to this acquisition, Prysmian will significantly increase its competitiveness in the Chinese utilities market with greater operational flexibility, efficiency and technical developments.
“Prysmian Technology Jiangsu will primarily serve Chinese power utilities and grid operators as well as Asia Pacific and other developing and emerging markets, with a particular focus on high-tech projects.”
Image: Prysmian
