Prysmian S.p.A.

Equities

PRY

IT0004176001

Electrical Components & Equipment

Real-time Borsa Italiana Other stock markets 04:13:29 2025-07-08 am EDT			5-day change	1st Jan Change
59.88 ^EUR	+0.84%		+0.77%	-2.89%

Jun. 27	DIARY - Italy to Aug. 31	RE
Jun. 24	Mib Hits 39,500 Points; Buzzi Leads the Rally	AN

Prysmian Doubles Down on U.S. Market with $500 Million Investment in Encore Wire

Published on 06/19/2025 at 01:36

(Alliance News) - In McKinney, Texas, Encore Wire--recently acquired by Prysmian for USD4 billion--has become a strategic hub to meet soaring U.S. demand for cables, fueled by the ongoing energy transition.

As reported by Il Sole 24 Ore on Thursday, the Italian group has just announced a fresh USD500 million investment to expand the facility, adding a new 60,000 square meter plant dedicated to medium-voltage cables. The new site is scheduled to be operational by 2027 and will create 120 new jobs.

Prysmian already boasts 30 manufacturing sites and 7 R&D centers across the United States.

"Tariffs on finished products can support local manufacturing," explained CEO Massimo Battaini, highlighting that the American power grid--strained by the rapid growth of data centers--urgently needs upgrades. The group has also just completed a USD22.5 million expansion in Pennsylvania.

The integration with Encore Wire--which produces 500,000 tons of cable annually--is a cornerstone of Prysmian's new industrial plan. The goal is to achieve EUR140 million in run-rate Ebitda synergies by 2026, cementing North America's central role in Prysmian's global strategy.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

Comments and questions: redazione@alliancenews.com

Go to the original article.
Legal disclaimer

Latest news about Prysmian S.p.A.

DIARY - Italy to Aug. 31	Jun. 27	RE
Mib Hits 39,500 Points; Buzzi Leads the Rally	Jun. 24	AN
DIARY - Italy to July 31	Jun. 24	RE
Stock prices rise after ceasefire	Jun. 24	AN
Italy - Factors to watch on June 24	Jun. 24	RE
DIARY - Italy to July 31	Jun. 20	RE
Futures Point to Technical Rebound for European Markets	Jun. 20	AN
Prysmian Invests $500 Million At Encore Wire Campus Over Five Years	Jun. 19	RE
War Chills European Markets, Closing Balance Negative	Jun. 19	AN
Prysmian Invests $500 Mln To Support U.S. Power Grids Through Encore Wire Expansion In McKinney, Texas	Jun. 19	RE
Prysmian Doubles Down on U.S. Market with $500 Million Investment in Encore Wire	Jun. 19	AN
DIARY - Italy to July 31	Jun. 17	RE
Markets Slide as Traders Fear Escalation in Middle East Tensions	Jun. 17	AN
Futures Slide; No Progress Between Iran and Israel	Jun. 17	AN
Middle East Tensions Fail to Dampen European Markets	Jun. 16	AN
Markets Largely Unchanged; Azimut Rises, Nexi Falls	Jun. 11	AN
Mib Lags Behind; Eyes on US Inflation Data	Jun. 11	AN
European Markets Expected to Open Lower Amid Sparse Macro Cues	Jun. 11	AN
Prysmian Completes Acquisition Of Channell For $950 Mln	Jun. 11	RE
Italy - Factors to watch on June 11	Jun. 11	RE
Prysmian to update 2025 guidance following acquisition of Channell	Jun. 11	AN
Prysmian Group Wraps Up Purchase of US-based Channell Commercial	Jun. 10	MT
Prysmian Completes Acquisition of Channell for USD950 Million	Jun. 10	AN
Prysmian Completes Acquisition Of Channell For $950 Mln	Jun. 10	RE
DIARY - Italy to July 31	Jun. 10	RE

Chart Prysmian S.p.A.

Duration

Period

PRY: Dynamic Chart

Company Profile

Prysmian S.p.A. specializes in the design, manufacturing, marketing and installation of wires and cable systems. Net sales break down by family of products as follows: - electrical wires and cable systems (92.3%): cables for distributing low, medium, and high voltages, special cables for industrial equipment, signaling cables, battery cables, underground and submarine high-voltage power cables, submarine telecommunication cables, and offshore specialty cables; - telecom wires and cable systems (7.7%): copper and fiber-optic cables, communication cables with metal conductors, components and cable systems for long-distance networks, etc. At the end of 2024, the group had 107 production sites worldwide. Net sales are distributed geographically as follows: Europe/Middle East/Africa (49.2%), North America (35.9%), Latin America (8.7%) and Asia/Pacific (6.2%).

Employees

33,740

Sector

Electrical Components & Equipment

Calendar

Jul. 30 - Q2 2025 Earnings Call

More about the company