Prysmian CEO Says Not Interested in Nexans
France cable maker Nexans is not the right target for industry leader Prysmian which is scouting for possible acquisitions, the chief executive of the Italian group said on Tuesday. "There would be several overlaps with Nexans," CEO Valerio Battista said on the sideline of a conference, adding getting antitrust approval for the deal would require Prysmian to sell assets.
NKT Cables Positions for Offshore Windfarm Growth
Danish power cable maker NKT Cables expects its business of delivering underwater cables to offshore wind farms to grow rapidly in the coming years, its chief executive said on Wednesday. The company, which is part of NKT Holding, has more than 20 percent of the market for offshore cables, accounting for 18 percent of its sales.
People's Bank of China adds Saipem Stake
The People's Bank of China owned 2.027 percent of Italian oil services group Saipem as of Dec. 18, a filing published by market watchdog Consob showed on Tuesday. China's central bank has made a string of large investments in blue-chip Italian companies this year buying stakes of around 2 percent in car maker Fiat Chrysler Automobiles, former telecoms incumbent Telecom Italia and cable maker Prysmian.
Elsewedy Wins Egypt Wind Farm Tender
Egypt has named Elsewedy Electric , the Arab world's biggest listed cable maker, as winner of a tender to build six wind power stations, the company said, as the country battles a severe energy shortage. The issue of power supply is important in Egypt and a potential test of the government's competence as it attempts to recover from years of political upheaval.
Prysmian Wins German Wind Farm Contract
Italian cable maker Prysmian said on Tuesday it won a contract worth up to 730 million euros ($1 billion) for work on an offshore wind park cluster in the German Baltic Sea. Prysmian said the projects will involve designing, supplying and installing high-voltage submarine cable systems between the planned parks in north-east Germany. The cables will be produced in Finland and Italy, Prysmian said.
