Prysmian Group has opened, in the presence of Prysmian Group’s CEO Valerio Battista, the Governor of the Yaroslavl Region Yastrebov Sergey Nikolaevich and the Italian Ambassador in Russia Cesare Maria Ragaglini, its new medium and high voltage cable production facility in Rybinsk, in the Russian Yaroslavl region, as the latest step in its expansion plans in Russia.

After the acquisition in 2009 of Rybinskelectrocabel, one of Russia’s most dynamic cable manufacturers, with the aim of building up local production capacity in high-tech business areas such as High Voltage and Industrial cables, the Group’s expansion in Russia continued following the merger between Prysmian and Draka, with the integration in 2011 of the St. Petersburg’s Neva Cable factory, which makes telecom copper and optical cables.

“The US$ 55 M total investment in the Russian market will allow us to start producing Medium Voltage and High Voltage cables locally, using manufacturing processes that meet the best quality standards of the Group and the best-in-class technology of the cable industry,” explains Cesare Biggiogera, CEO Prysmian Group Russia. “This is a mandatory step if we want to be a partner to Russia’s power transmission and distribution companies, and it will help us to reach the forecast sales target of around €200 million in 2016.”

Tags: Prysmian Group