Prysmian is to invest an additional $100m over the next two and half years to increase its North American plant’s production capacity.
The objective of the investment is to support the foreseen growth in the power distribution and transmission markets, helping meet the need for infrastructure upgrades and the growing demand from clean energy sources.
“The decision to increase the production capacity of our plants reinforces the group’s commitment to North American customers and to support the need to build together a resilient energy distribution and transmission infrastructure”, said Prysmian Group North America CEO Andrea Pirondini.
“More specifically, these investments will further increase capacity to support breakthrough projects, reinforcing Prysmian Group’s positioning as the partner of choice for building the US clean energy grid.”
The current aging cabling infrastructure in North America pose real challenges to the safety and continuity of power distribution and supply, said Prysmian.