« BACK  

Prysmian Group increases to 100% share in Estonian Keila Cables

Acquisition of the remaining 34% interest in AS Draka Keila Cables finalized
Acquisition of the remaining 34% interest in AS Draka Keila Cables finalized

Prysmian Group, world leader in the energy and telecom cables and systems industry, has finalized the acquisition of the remaining 34% interest in AS Draka Keila Cables, thereby becoming the sole shareholder of this Estonian cable company, which joined the Group following the acquisition of Draka in 2011. The price of this acquisition amounts to €6.2 million and takes into consideration a positive net financial position (cash) of approximately €4.9 million at the end of 2013.

Draka Keila Cables reported sales of approx. €53.8 million in 2013 and is expected to deliver growing results in 2014, taking advantage of the favorable development of market demand in the reference market of Baltic Republics and Nordic Countries.

With 6 plants in Finland, Sweden, Norway, Denmark and Estonia Prysmian Group can rely on a prominent presence in the Nordic region. The Company is able to offer a wide range of products from submarine and underground high and medium voltage cable systems, to special cable solutions for the oil & gas, the marine industry, the renewable energy sector, telecommunication and cablings for the construction sector.

The investment in Keila Cables will allow the Group to further speed up the development of its growth strategy in this high potential region.

PUBLISHED: 09 Jul 14 Bookmark and Share
Company:
Prysmian Group
Country:
Italy
Tel:
+39 02 6449 1
Fax:
+39 02 6449 1
Email:
marketing.energy@prysmiangroup.com
Website:
www.prysmiangroup.com
Other News from Prysmian Group:

»
Prysmian Group and Nanocomp Technologies sign technology cooperation agreement
»
Innovation and project execution for offshore wind farms in Northern Europe
»
Prysmian Group to acquire the assets of the Shen Huan Cable for € 42 M
»
Reopening of the Guatapé hydroelectric plant in Colombia
»
Prysmian at CIGRE 2016
»
Prysmian continues investing in the most competitive areas in Europe
»
Prysmian ready to offer the widest range of cables compliant with CPR
»
Power transmission submarine cable link between Sicily and Calabria
»
Double technology milestone in the field of power transmission
»
Breakthrough HVDC cable technology for power transmission grids
»
New cable solution enabling up to 15% cost reduction of offshore wind farms
»
Prysmian presents biggest European optical fibre plant
»
Prysmian sustaining the development of broadband networks
»
Prysmian reconfirms its technology and innovation leadership in the cable industry
»
Prysmian develops its highest fibre-count underwater cable for FirstPath
»
Prysmian's Cable Enterprise ready for sail out following upgrade works
»
Strengthening submarine power cables production capabilities
»
Fourth edition of international graduate program launched
»
Prysmian Group increases to 100% share in Estonian Keila Cables
»
Prysmian, new contract for Ausgrid power grid upgrades in Sydney
»
Prysmian, €40 M contract for a new underwater power link in Ireland
»
Prysmian secures BorWin3 project worth in excess of €250M
»
New contract for High Voltage cables in Denmark
»
Prysmian at EWEA Annual Event 2014 in Barcelona
»
Prysmian Group completes operations in Vietnam for South East Asia’s longest undersea cable system
»
Super safe eco-sustainable cables for Expo 2015 site
»
EIB funding of €100 million for R&D by Prysmian Group in Europe
»
Cooperation agreement with Russian power grid company Rosseti
»
Prysmian Group to showcase at EWEA Offshore 2013 In Frankfurt
»
Prysmian Group invests in the managers of tomorrow
»
New major contracts with Petrobras for Umbilicals and Flexible Pipes
»
Prysmian Group to showcase for the first time at KIOGE - Kazakhstan
»
Prysmian Group secures first-ever submarine power link in Capri
»
Prysmian implements with Terna the first High Voltage grid with high-performance eco-sustainable cable
»
Prysmian to strengthen its offer for marine and offshore application
»
Italy's tallest skyscraper cabled by Prysmian
»
Substantial completion of the "Hudson Project" power link achieved
»
Prysmian awarded contract to install submarine cables
»
Prysmian Group opens new optical cable plant in Slatina, Romania
»
Prysmian Group to showcase at OTC 2013 in Houston, TX
»
Prysmian secures DolWin3 project worth in excess of € 350 m for the grid connection of offshore wind farms in Germany
»
Prysmian Group chooses sailing to communicate the brand internationally
»
Prysmian at Middle East Electricity 2013
»
British Government names Prysmian 'Investor of the Year' in the UK


Industry News:
Top:  MMH 101 type multiwire drawing machine; Bottom: Design of the booth which is split between the Niehoff Group and WAFIOS
Niehoff at the wire South America 2017 trade fair
Maschinenfabrik Niehoff GmbH & Co KG, Germany
Goudsmit designs and manufactures magnet assemblies for the aerospace industry that are lower in weight and perform better
Magnets for the aerospace industry
Goudsmit Magnetics Group, Netherlands
Ian Fitzgerald, Operations Director
'Emergency Service' in demand for AWI as manufacturing continues to surge
Alloy Wire International, UK
Niehoff is making changes to its management board
Change in the Niehoff management board
Maschinenfabrik Niehoff GmbH & Co KG, Germany
The exhibition floor at Wire & Cable Guangzhou
Wire & Cable Guangzhou 2017 recorded highest attendance in recent years
Guangzhou Guangya Messe Frankfurt Co Ltd, China (PR)
Maillefer Fiber Optic Secondary Coating Line OEL 40///Explore
Maillefer at IWCS 2017
Maillefer Extrusion Oy, Finland
Maillefer will be on Booth 603 at wire South America 2017
Maillefer at wire South America 2017
Maillefer Extrusion Oy, Finland
Wire coating by PDH system
Die wear - way to eliminate it
Decalub, France
CONDAT lubricants for aluminum drawing
New lubricant! Enhanced aluminum drawing
Condat SA, France
The CRU conference participants have the possibility of visiting the Niehoff headquarters in Schwabach
Niehoff and the 11th CRU Wire & Cable Conference
Maschinenfabrik Niehoff GmbH & Co KG, Germany
» VIEW ALL NEWS «