The newly created group is headquartered in Milan, Italy. According to Prysmian, the combined company has sales of over 11 billion euros, approximately 30,000 employees at 112 plants and 25 R&D centres in over 50 countries.
Prysmian also says the integration with General Cable will expand the range of technologies and products it offers.
Additionally, North America will now account for approximately one third of the group’s sales, with the North American office located in Highland Heights, Ken., and 23 plants throughout the region with about 5,800 employees.
“We are proud to have established our second home region in the United States, contributing to the development of the country’s economy with our best technologies and expertise. Today, we begin to operate as a single team with shared objectives: integrating the two companies’ cultures, business segments, geographical markets, production facilities and staff functions,” said Valerio Battista, CEO, Prysmian Group. “Protecting our business and creating value: these are our priorities.”
The new organizational matrix model is structured along three lines: the Group’s centralized functions, which aim to create an integrated “One Company”; the regions; and the business areas (energy, telecom and projects), which are responsible for product and cross-selling strategies. An international management team composed of 450 people has also been established.