Additional Capacity and New Technology in Claremont, N.C. Optical Fiber and Cable Plant

MILAN, ITALY and HIGHLAND HEIGHTS, KY / ACCESSWIRE / August 23, 2021 / Prysmian Group, the world leader in the energy and telecom cable systems industry, announced today it is investing $85 million in major equipment and technology upgrades at plants in North America, enabling the company to meet growing production needs for telecom customers.

Most of these investments and upgrades will take place at the Prysmian Group Claremont, North Carolina facility to expand production of optical products. Additionally, the Claremont facility is expected to grow to 620 employees in the next 18 months, adding up to 70 new jobs.

"Prysmian Group is committed to support the growth necessary to expand access to high-speed broadband in North America," said Andrea Pirondini, Chief Executive Officer of Prysmian Group North America. "The U.S. Rural Digital Opportunity Fund and the Canadian Universal Broadband Fund will also help build local economies and provide access to healthcare services and education opportunities. As we continue to experience strong demand for optical fiber in the region, we are proud to play a leading role as an enabler for digital transformation across North America. With these investments, we can continue to meet customer needs in support of 5G development in the U.S. and Canada."

With a strong legacy in manufacturing optical fiber and cable for a broad range of applications, the Group has four telecom production sites in the United States. In particular, the Claremont Research and Development Center is the only one of its kind, co-located in a joint optical fiber and optical fiber cable manufacturing facility. Products such as the FlexTube™ and ezMicroduct™ are uniquely manufactured at the Claremont facility, offering exceptional fiber density designs enabled by bend-insensitive fibers, for which Prysmian Group is the industry leader. Thanks to this, the Telecom Business Unit in North America, led by Vice President of Telecom for Prysmian Group North America, Patrick Jacobi, supports the growth of major telecom carriers across the U.S. and Canada, thus continuing its tradition as global leader in technology development for new, reliable and efficient broadband networks, providing valuable new capacity and options for telecom network operators.

"North America is a strategic market for our Group, and these investments are inserted into a global plan to increase our capacity to support the digital transformation with innovative products, going through the development of new ultra-broadband fiber optic telecommunication networks," added Philippe Vanhille, Executive Vice President for Telecom Business Unit of Prysmian Group. "These critical infrastructures must be high quality and designed to provide strong performance over time in order to be ready for the services of the future like 5G, smart cities, smart transportation and smart homes."

About Prysmian Group:

Prysmian Group is world leader in the energy and telecom cable systems industry. With almost 140 years of experience, sales of over €10 billion, about 28,000 employees in over 50 countries and 104 plats, 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.

Media Relations:

Lorenzo Caruso
VP Communication & Non-Financial Reporting
Ph. 0039 02 6449.1
lorenzo.caruso@prysmiangroup.com

Investor Relations:

Cristina Bifulco
Chief Sustainability Officer and Group Investor Relations Director
Ph. 0039 02 6449.1
mariacristina.bifulco@prysmiangroup.com

About Prysmian Group North America:

Based in Highland Heights, KY, Prysmian Group North America operates across 23 plants and 6 R&D centers with over 5,800 employees. In 2018, the Group finalized the acquisition of General Cabe resulting in combined net sales totaling $4 billion. The Group is strongly positioned in high tech markets and offers the widest possible range of products, services, technologies and know-how. A world leader in the design, manufacture and sale of wire and cable products, Prysmian Group North America's business units include power distribution, specialty, telecoms, trade & installers and energy projects (HV). Prysmian Group is a public company, listed on the Italian Stock Exchange in the FTSE MIB index. Additional information is available at na.prysmiangroup.com.

Media Relations:

Rebecca Mesnil
Head of Marketing & Communications NA
rebecca.mesnil@prysmiangroup.com

Justine David
Mower, on behalf of Prysmian Group
Jdavid@mower.com

SOURCE: Prysmian Group

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