COMPANY
OVERVIEW
With over 140 years of cumulative experience, the company has a long history and has always been at the forefront of striving to meet evolving customer needs. The history of our business charts the history of the cable industry itself, marked by many major milestones along the way, which cement our reputation as an early adopter and industry pioneer.
About a hundred years later, the company known as Prysmian was involved in some key projects - the laying of the 5,150 km long telegraph line crossing the Atlantic Ocean between Italy and South America (1925), the laying of the submarine cable between Italy and Brazil enabling long-distance calls, and thanks to his participation in the project connecting Brazil and North Africa, he entered the international stage early.
In parallel with the rapid development of the future Prysmian, the company later known as Draka was established. Between 1910 and 1950, the company stood out due to its constant growth, which was coupled with the continuous expansion of the product range and the opening of new factories in strategic markets - Spain, the United Kingdom, North America, Argentina and Brazil.
This year was one of the milestones in the history of Draka, when it was acquired by the Dutch international company, now known as Philips, Koninklijke Philips Electronics N.V., and merged into its "Wires and Cables" division.
In the 1990s, Prysmian and Draka grew at an increasingly rapid pace. In order to expand their commercial and industrial activities, both companies made several acquisitions, which were followed by comprehensive reorganizations. They were close to becoming the two largest companies in energy supply and telecommunications.
Prysmian entered the stock market in 2007 and its shares were listed among the 'blue chip' shares of the Milan Stock Exchange. Three years later, Prysmian became a public limited company, whose shares are listed on the FTSE MIB index of the Italian stock exchange. In the absence of a decisive majority shareholder, Prysmian's management is characterized by transparency, with which it uses its abilities to win and keep the unbroken trust of its investors.
The Prysmian Group was created by the merger of Prysmian and Draka: two commercial brands, a single group that combines the strengths of both and has become a world leader in the field of energy and telecommunications cables and systems. We currently offer the most comprehensive range of products, services and technologies available on the market in addition to our geographical coverage.
Pursuant to the terms of the merger agreement entered into between the parties on December 3, 2017, Prysmian purchased all of the outstanding shares of General Cable for $30.00 per share in cash. With the completion of the transaction, General Cable became a privately held company.
