November Overview is now online

Articles in this issue

Prysmian Investing in North American Plant Capacity – Prysmian Group, , Milan, Italy, a global supplier to the energy and telecom
cable systems industry, recently announced that it is investing an additional US$100 million over the next two and half years to increase its North American,
Highland Heights., KY, USA, plant’s production capacity. The objective of the investment is to support the foreseen growth in the power distribution and
transmission markets, helping meet the need for infrastructure upgrades in the region as well as the growing demand from clean energy sources.

LS Cable & System Business Deals & Taiwan Contract – LS Cable & System has entered into a Memorandum of Understanding
(MOU) for cooperation in the domestic offshore wind power business with Northland Power, a Canadian new and renewable energy developer. With this MOU, the two firms prescribed the role of each, and the various matters necessary for the offshore wind power generation business, and agreed to cooperate in related design, procurement and construction matters.

Nexans Opens High-Voltage Subsea Cable Plant in Charleston, SC, USA for Offshore Wind Market – Nexans, Paris, France, officially opened its high-voltage subsea cable plant in Charleston, SC, USA, on November 9, 2021. This state-of-the-art facility supports the rapidly expanding USA offshore wind market, which has potential growth of 13% annually by 2030, and will generate up to some US$70 billion of capital investment. Overall, the USA offshore wind market plans to add 20 GW of power per year, according to the International Energy Agency (IEA).

GG Group shareholder structure streamlined; Assumption of Tichy shares – Following the strategic consolidation of the glob ally operating group of companies success fully completed in 2020, where several production sites and the firm’s elevator division were carved out, GG Group recently took further steps to expand its position on the Chinese market.

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