Nexans sells its telecommunications copper cables businesses activity in Spain
Paris, June 2, 2008 – Nexans, the worldwide leader in the cable industry, announces having closed the sale of its telecommunications copper cable business activity in Spain (Santander production unit) to the Bristish B3 Cable Solutions, one of the European leading metallic cable manufacturers, for an enterprise value of around 17 million euros. The planned divestiture was previously announced on January 31, 2008 together with the 2007 results announcement.
The Group continues its refocusing on its priority market segments.
In 2007, this business generated sales of 55 million euros at standard copper. This operation will not have a material impact on the 2008 results of the group.
With energy as the basis of its development, Nexans, the worldwide leader in the cable industry, offers an extensive range of cables and cabling systems. The Group is a global player in the infrastructure, industry, building and Local Area Network markets. Nexans addresses a series of market segments from energy, transport and telecom networks to shipbuilding, oil and gas, nuclear power, automotive, electronics, aeronautics, handling and automation. With an industrial presence in 39 countries and commercial activities worldwide, Nexans employs 22,800 people and had sales in 2007 of 7.4 billion euros. Nexans is listed on NYSE Euronext Paris, compartment A. More information on www.nexans.com