Prysmian
 |
|
| Type | Società per azioni |
|---|---|
| Traded as | BIT: PRY |
| Industry | Manufacturing, technology |
| Founded | 1879 |
| Headquarters | Milan, Italy |
| Key people | Valerio Battista (CEO), Paolo Zannoni (Chairman) |
| Products | Telecommunications and power cables |
| Revenue | €4.571 billion (2010)[1] |
| Operating income | €307 million (2010)[1] |
| Profit | €148 million (2010)[1] |
| Total assets | €3.765 billion (end 2010)[1] |
| Total equity | €799 million (end 2010)[1] |
| Employees | 12,350 (end 2010)[1] |
| Website | www.prysmian.com |
Prysmian is an Italian-based multinational corporation headquartered in Milan and listed on the Milan Stock Exchange, manufacturing and laying cables for the energy and telecommunications sectors, it's the market leader, also thanks to the acquisition of Draka Holding. It is present with subsidiaries in 50 countries, 98 plants in 24 countries and 22 Research & Development Centres worldwide.
The company was originally founded in 1879, as Pirelli Cavi e Sistemi. In 2005 the Pirelli group sold it to Goldman Sachs which re-branded the company with its current name.
At the end of 2009, Goldman Sachs decided to list Prysmian on the stock market and sold most of its stake in the company by means of the IPO, making it one of the largest public companies in Italy.
In 2009, Prysmian entered merger talks with its Dutch competitor Draka, but divergences began to emerge in August, and the deal was called off in September.[2][3] The next year, after an unsuccessful takeover attempt by rival Nexans[4], negotiations resumed and the announcement[5] of a friendly acquisition was made on 22 November 2010 to create the world's largest cable maker by revenue[6].
[edit] References
- ^ a b c d e f "Annual Report 2010". Prysmian. http://media.corporate-ir.net/media_files/IROL/21/211070/ING_fascicolo_Prysmian_31_12_10_v_29.03.pdf. Retrieved 3 May 2011.
- ^ "Prysmian down; Draka deal doubt", Reuters, 2009-08-04, http://uk.reuters.com/article/idUKL416656520090804, retrieved 2010-07-28
- ^ Gray-Block, Aaron (2009-09-10), "Prysmian calls off takeover talks with Draka", Forbes, http://www.forbes.com/feeds/afx/2009/09/10/afx6871730.html, retrieved 2010-07-28
- ^ "Draka rejects Nexans offer, both weigh options". Reuters. 27 October 2010. http://www.reuters.com/article/2010/10/27/us-draka-nexans-idUSTRE69Q4JP20101027. Retrieved 5 February 2011.
- ^ "Prysmian announces intention to launch recommended public offer for Draka, to create a global leading player in the energy and telecom cable industry" (Press release). Prysmian. 22 November 2010. http://www.prysmian.com/communication/news.html?newsLink=/archive/news/2010/news042.news. Retrieved 5 February 2011.
- ^ "Prysmian and Draka cable deal takes on No.1 Nexans". Reuters. 22 November 2010. http://www.reuters.com/article/2010/11/22/prysmian-draka-idUSLDE6AL05Q20101122. Retrieved 5 February 2011.
