Nexans concludes its acquisition of Olex

Olex logoParis, 1st December 2006 – Nexans, the worldwide leader in the cable industry,announces the closing of its acquisition of the Australian company Olex, leader of the southern Asia-Pacific cable industry.

This acquisition, announced on 9th November, reinforces Nexans' position in energy cables, its core activity, and doubles its exposure to the buoyant markets of the Asia-Pacific region.

The cost of the operation was 515 million Australian dollars (approximately 310 million euros).

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Ann EVERAERT Communication
Ann.Everaert@nexans.com

About Nexans

Nexans is the worldwide leader in the cable industry. The Group brings an extensive range of advanced copper and optical fiber cable solutions to the infrastructure, industry and building markets. Nexans cables and cabling systems can be found in every area of people’s lives, from telecommunications and energy networks, to aerospace, automotive, railways, building, petrochemical, medical applications, etc. With an industrial presence in 29 countries and commercial activities worldwide, Nexans employs 20,000 people and had sales in 2005 of 5.4 billion euros. Nexans is listed on the Paris stock exchange. More information on http://www.nexans.com/

About Olex

Olex is an Australian manufacturer of electrical cables with more than 65 years of experience servicing the Australian and Asia Pacific energy, construction and industrial markets. As Australia’s largest power cable manufacturer, Olex is a well respected supplier, providing a full range of general purpose fixed and flexible cables as well as special purpose cables. Olex also provides specialist technical services, cable design and other value added services gained from our extensive experience in the cable industry. Olex employs around 900 staff in Australia and New Zealand, with sales offices and distribution centres throughout the Asia-Pacific Area. The main manufacturing and product development centre is at Tottenham in Victoria, Australia. This is also the Olex Holdings Corporate head office. In total, there are three Olex manufacturing facilities – Tottenham, Lilydale (Victoria) and New Plymouth (NZ), and all are quality certified to ISO 9001.