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Prysmian — M&A Activity 2019
Dec 12, 2019
4170_rns_2019-12-12_da88ddaa-bdc7-43f8-8c19-2c930a8b4ff6.pdf
M&A Activity
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| Informazione Regolamentata n. 0902-70-2019 |
Data/Ora Ricezione 12 Dicembre 2019 14:02:06 |
MTA | |
|---|---|---|---|
| Societa' | : | PRYSMIAN | |
| Identificativo Informazione Regolamentata |
: | 125747 | |
| Nome utilizzatore | : | PRYSMIANN03 - Bifulco | |
| Tipologia | : | 2.2 | |
| Data/Ora Ricezione | : | 12 Dicembre 2019 14:02:06 | |
| Data/Ora Inizio Diffusione presunta |
: | 12 Dicembre 2019 14:02:08 | |
| Oggetto | : | PRYSMIAN S.P.A.: TO DEVELOP A NEW SUBMARINE CABLE LINK FOR RED ELÉCTRICA DE ESPAÑA |
|
| Testo del comunicato |
Vedi allegato.
PRESS RELEASE
PRYSMIAN GROUP TO DEVELOP A NEW SUBMARINE CABLE LINK FOR RED ELÉCTRICA DE ESPAÑA
THE NEW INTERCONNECTOR WILL UPGRADE THE CANARY ISLANDS' POWER GRIDS
Milan, 12 December 2019 – Prysmian Group, world leader in the energy and telecom cable systems industry, has been awarded a new contract worth of about €27 million by Red Eléctrica de España (REE), the Spanish transmission system operator (TSO), to connect two Canary Islands (Lanzarote and Fuerteventura).
The project involves the design, supply, installation and commissioning of a 132 kV HVAC (High Voltage Alternating Current) three-core submarine and land power cable system with XLPE insulation. The turn-key interconnection will link Playa Blanca, in the island of Lanzarote, to La Oliva, in the island of Fuerteventura, covering a submarine route of around 14 km and an underground route of around 2 km.
The submarine and land cables will be manufactured, respectively, at Prysmian Group's centres of technological and manufacturing excellence located in Arco Felice (Italy) and Vilanova (Spain). Installation activities will be performed by one of the Group's state-of-the-art cable laying vessels. Delivery and commissioning of the project are scheduled for 2021.
The project further confirms the Group's ongoing successful relationship with REE, which in recent years has awarded to Prysmian, among others, several grid connection projects, including the two interconnectors between Spain and Morocco, and both projects linking the Balearic Islands (Iberian Peninsula-Mallorca and Ibiza-Mallorca), as well as the France-Spain underground electrical interconnection, awarded by a joint venture between REE and the French grid operator Réseau de Transport d'Électricité (RTE).
Prysmian Group
Prysmian Group is world leader in the energy and telecom cable systems industry. With almost 140 years of experience, sales of over €11 billion, about 29,000 employees in over 50 countries and 112 plants, the Group is strongly positioned in high-tech markets and offers the widest possible range of products, services, technologies and know-how. It operates in the businesses of underground and submarine cables and systems for power transmission and distribution, of special cables for applications in many different industries and of medium and low voltage cables for the construction and infrastructure sectors. For the telecommunications industry, the Group manufactures cables and accessories for voice, video and data transmission, offering a comprehensive range of optical fibres, optical and copper cables and connectivity systems. Prysmian is a public company, listed on the Italian Stock Exchange in the FTSE MIB index.
Lorenzo Caruso Cristina Bifulco Corporate and Business Communications Director Investor Relations Director Ph. 0039 02 6449.1 Ph. 0039 02 6449.1 [email protected] [email protected]
Media Relations Investor Relations
This press release is available on the company website at www.prysmiangroup.com and in the mechanism for the central storage of regulated information provided by Spafid Connect S.p.A. at .