Exelon Inc. chooses Nexans for $20 million cable contract
Paris, June 25, 2001 - Exelon Inc. (NYSE: EXC), one of North America's largest power and gas utilities, has chosen Nexans to be a major supplier of XLPE (Cross Linked Polyethylene) power cable. The contract is worth more than $20 million (USD) in the first two years and has further potential for two one-year extensions.
Exelon Inc., recently formed from Commonwealth Edison of Chicago and Philadelphia Electric Company, is one of North America's largest electric utilities with approximately five million customers and revenues exceeding $15 billion annually.
The contract required that Nexans manufacture the cable to a design standard, engineered by Exelon - in order to reduce the overall cost of its installed cable. In addition, Nexans demonstrated that it could meet strict delivery requirements and manage Exelon's inventory.
Yvon Raak, President of Nexans' Energy Division, commented, "This significant contract was won in the face of very stiff competition and under exacting requirements from Exelon. It underlines Nexans position as a world leader in the cable industry and further demonstrates our ability to increase our market share in an extremely competitive market. This contract is a milestone in Nexans' growth in North America".
Formed from Alcatel Cables and Components, Nexans is a worldwide leader in the cable industry. Nexans product portfolio includes an extensive range of cables and systems. Nexans solutions can be found in every area of people's lives, from telecommunications and energy networks, to aeronautics aerospace, automobile, building, petrochemical and medical applications. Operating in 20 countries, Nexans employs 19,000 people and had sales in 2000 of euros 4.8 billion. More information on www.nexans.com
Exelon Corporation is one of the nation's largest electric utilities with approximately five million customers and more than $15 billion in annual revenues. The company has one of the industry's largest portfolios of electricity generation capacity, with a nationwide reach and strong positions in the Midwest and Mid-Atlantic. Exelon distributes electricity to approximately five million customers in Illinois and Pennsylvania and gas to 4250,000 customers in the Philadelphia area. The company also has holdings in such competitive businesses as energy, infrastructure services and energy services. Exelon is headquartered in Chicago and trades on the NYSE under the ticker EXC.