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The last acquisition by Prysmian, the world’s largest cable manufacturer, was its largest ever: a $3 billion deal for U.S.-based General Cable that was completed in 2018. Per a report in Reuters, the company may make another deal in the year or two.

The Reuters story said that during an analyst call, Chief Executive Valerio Battista said that “until recently M&A ‘was a suicide’ due to sky-high valuations.” That situation is changing, and Prysmian has a healthy balance sheet that allows it to pursue opportunities. “Frankly speaking, I believe that in the next 12-24 months ... some of our competitors may come to the door,” he said.

No potential acquisitions were cited in the article, which noted that Prysmian expects a cash flow of between €550-650 million this year, topping prior guidance.

Last modified on September 6, 2023

 CommScope® reports that it plans to invest $60.3 million over the next four years to expand its manufacturing facilities based in North Carolina to bolster its ability to meet U.S. supply demands driven by federal initiatives.

 A press release said that CommScope currently has the capacity to manufacture drop cable at a rate of approximately two billion feet per year at its U.S. facilities, a level of production that will allow states and their partners to connect every underserved American as a part of the Broadband Equity, Access, and Deployment (BEAD) Program. The expansion in Catawba County is expected to create at least 250 new jobs.

The expansion will further allow CommScope to manufacture the necessary cable for service providers to deploy broadband across the U.S. Capacity increase will align around loose tube production and additional fiber cable counts and styles needed for rural deployment, including CommScope’s HeliARC fiber optic cable that is specifically designed for rural fiber network architecture.

“Broadband for everyone is no longer a luxury, but rather a critical necessity to participate in today’s society and economic market,” said CommScope President and CEO Chuck Treadway. “We have long been committed to supplying our partners with the solutions necessary to bring broadband to everyone. Furthering our long-standing relationship with the State of North Carolina is a great next step to bring ‘Internet For All’, and we are thrilled to work with the State on this endeavor.

Last modified on September 7, 2023

Prime Materials Recovery, Inc. (PMR), announced that it is buying an SCR copper rod system from Southwire for installation at its subsidiary, IMC - Metals America, LLC (IMC), in Shelby, North Carolina.

A press release said that the new line—the SCR 4500— will be installed in a purpose-built plant at the existing site, and mark the business’s entry into the ETP copper rod market. Sitework is expected to begin in the third quarter of 2023 and bring 75-80 new jobs to Cleveland County, North Carolina.

PMR noted that in a separate initiative, IMC, one of North America’s largest producers of oxygen-free (OF) copper, will be increasing its copper rod production capacity with the purchase and installation of a new line from Upcast OY based in Pori, Finland.

“We are extremely pleased to be partnering with industry leaders like Southwire and Upcast OY with these initiatives,” said PMR CEO Bernie Schilberg. “We look forward to these successful projects and years of effectively serving our customers and these markets.”

Per PMR, each month it processes and brokers in excess of 35 million pounds of nonferrous metals at its facilities. It also actively participates in the global metal market via its import and export capabilities. PMR and its holding company represent one of the largest nonferrous and polymer merchants, processors, and fabricators in the United States. Based in East Hartford, Connecticut, the business includes facilities in Canastota, New York; South Windsor and Willimantic, Connecticut; Jersey City, New Jersey; Hickory and Shelby, North Caroline; Orangeburg, South Carolina; Miami, Florida; and Wilmington, Delaware.

The SCR-4500 system is designed for a production rate of 35 metric tons per hour of eight mm rod. The project includes the design of all operating equipment from a skip cart furnace loader to a finished rod handling system. The system will include an 11 stand Morgan “No Twist®” rolling mill, furnished by Primetals Technologies.

“We would like to welcome IMC into the SCR family and look forward to many years of successful collaboration,” said Mark Roden, Southwire’s vice president of SCR Technologies. “It is through our continued support and the SCR Technology Pool that this relationship will continue to grow for many years to come.”

Last modified on September 6, 2023

NKT reports that it has signed a long-term contract with major European copper producer KGHM S.A. to ensure that it will get the copper rod it needs for 2023-2027.

 A press release said that the expansion of renewable energy sources has led to considerable increased demand for copper. To secure that essential supply NKT signed a long-term agreement with Polish copper supplier KGHM S.A. for an annual minimum of 52,500 metric tons of copper wire rod for 2023-2027, with an option to expand quantities and extend the contractual period.

“We are pleased to strengthen our long-term collaboration with KGHM by entering into this frame agreement for the supply of copper rod for the coming years,” said NKT President & CEO Claes Westerlind. “And even more so, that we are able to source copper close to where it is needed, which supports our efforts to reduce the environmental impact of our operations.”

KGHM is an integrated copper producer with its own mineral resources, mines, smelters and copper rod production facilities in Europe. KGHM’s Głogów and Legnica copper smelters/refineries and Cedynia wire rod plant are Copper Mark certified. In line with its commitment to connect a greener world, NKT has also joined the Copper Mark to promote responsible copper mining and production.

Last modified on September 6, 2023

Madsen Steel Wire Products has acquired a 100,000-sq-ft facility in Bronson, Michigan, that will house a powder coating line that will apply coating to a wide variety of wire products produced at Madsen Steel Wire’s headquarters in Orland, Indiana, and be able to coat any wire or sheet metal product customers need.

A press release said that the best-in-class powder coating line will enable the company to be a one-stop shop for multiple industries. The expansion was fully backed by the Michigan Economic Development Corporation (MEDC) and the Michigan Business Development Program (MBDP) is providing instrumental support with a performance-based grant amounting to $552,000.

“Michigan has been an outstanding partner in growing USA manufacturing by reinvesting in the local community,” said Drew Greenblatt, president and owner of Madsen Steel Wire Products and Marlin Steel Wire Products. He noted that purchases last year included two best-in-class machines: a Trumpf TruBend 3000 press brake and a Schlatter MG950 wire welder to produce wire products quicker and more efficiently while boosting product quality. “With the addition of our new powder coating line, we have further cut down the time spent in the manufacturing process. True to our promise, we continue to deliver on “highest quality, fastest delivery.”

Last modified on September 6, 2023

Manner Polymers announces that it plans to invest $54 million to build a new sustainable manufacturing facility in Southern Illinois that will create more than 60 jobs.

A press release said that the new plant in Mount Vernon is being designed with a focus on automation and redundancy to provide the highest levels of product consistency coupled with low cost and unparalleled supply reliability. Production is expected to start in the summer of 2025.

The company serves a broad range of markets including automotive, appliance, construction, telecommunications, industrial, medical and agriculture. Product applications include cable and wire jacketing and insulation compounds for fiber optic cables, data transmission cables, coaxial cables, patch cords and shielded/unshielded twisted pairs.

The new facility will increase the company’s production capacity by 100 million pounds. It will be powered by a 15-acre solar field located on the site.

“Not only will we incorporate best in class manufacturing technology, but we will also produce substantially all of the electricity that we use,” said Manner Polymers CEO Raj Bhargava. “Our objective is to build the lowest cost, highest quality, most environmentally sustainable flexible PVC compounding plant in the world. This will be a transformational plant. It will have industry leading capabilities coupled with a clean energy footprint.”

Last modified on September 6, 2023

In what it describes as “a historic first,” Nexans reports that it has been awarded a turnkey contract valued at €1.43 billion for the section of the EuroAsia Interconnector that connects Greece and Cyprus.

A press release said that the interconnector is a critical part of a broader project to connect the grids of Greece, Israel, and Cyprus. The 525 kV high voltage direct current (HVDC) cable, which will be the longest and deepest interconnector in the world with a bi-pole length of 2 x 900 km, will run across the Mediterranean Sea floor at depths of more than 3,000 m. The subsea HVDC mass impregnated cables will be manufactured in Nexans’ facilities in Halden (Norway) and Futtsu (Japan). Installation will be done with the Nexans Aurora and Nexans Skagerrak cable-laying vessels.

The EuroAsia Interconnector will exchange up to 1,000 MW among the three nations with the capability of increasing to 2,000 MW, the equivalent to 3 million households’ average electricity consumption, and will end the energy isolation of Cyprus by creating an energy highway between Europe and Asia, it will be the largest interconnector project in history, supplying over three million homes with electricity. Pole One is expected to be completed in 2028 and Pole Two in 2029.

“This record-breaking project demonstrates our capacity to innovate and push the limits of electrical transmission and distribution to meet an ever-growing global need,” said Nexans CEO Christopher Guérin. “This is a crucial step on the path to a carbon-free economy. Nexans’ global electrification strategy is playing a key role in the world’s journey to a net zero future and we are excited that we have been selected to bring the development of the EuroAsia Interconnector to life.”

The interconnector was designated as a Project of Common Interest (PCI) by the EU, a status designed to allow the project to benefit from accelerated planning and permitting, lower administrative costs, and public participation. To qualify as a PCI, a project must also contribute to the European Union’s energy and climate goals, so that much of the electricity being shared will be from renewable and decarbonized sources. IPTO, the Transmission System Operator of Greece, was cited as having provided essential technical and operational capacity to the project.

Last modified on August 5, 2023

The Prysmian Group has been awarded a new contract by Ørsted Wind Power A/S to supply inter-array submarine cables for the Hornsea 3 offshore wind farm, located 160 km off the Yorkshire coast, U.K.

A press release said that the project—subject to a final procedural confirmation from Ørsted—calls for approximately 280 km of 66 kV inter-array cables with XLPE insulation. The order from Ørsted, a repeat customer, will cover about half of the overall wind farm’s requirements.

The Prysmian Group will be responsible for the design, manufacture, supply, termination and testing of the inter–array submarine cable system that will connect the wind turbines and the offshore converter station. All the submarine cable cores will be produced at the Group’s centers of excellence located in Montereau and Gron, France, while the armoring and assembling processes will be performed at the plant in Nordenham, Germany. The cables are due to be delivered in 2026. Once constructed, the site will be able to supply green, renewable electricity to more than three million homes.

“This award reflects Ørsted’s trust in Prysmian’s capabilities to meet the increasing need of submarine cable systems to support the energy transition to smarter and greener power grids,” said Juliano De Mello, sales team manager offshore wind, Prysmian Group. “We are very pleased and proud for having been chosen again to undertake such a challenging project supporting Ørsted to meet the U.K. Government’s ambition to deliver 50 GW of offshore wind power by 2030 as part of the British Energy Security Strategy.”

In 2018, Ørsted awarded Prysmian Group the contract for the 66 kV inter–array submarine cable system for the Hornsea 2 offshore wind farm. That project connected 110 of the 165 wind turbines and the offshore substation platform.

“After working successfully with Prysmian on the Hornsea 2 project, we are delighted to work together again on Hornsea 3,” said Luke Bridgman, senior project director for Hornsea 3. “The project represents another leap forward in terms of the size and scale of offshore wind farms, and collaborations with world-class manufacturers such as Prysmian are crucial to executing the project successfully.

Last modified on August 5, 2023

Kris-Tech Wire, a supplier of wire and cable to the building, commercial and utility industries, recently broke ground at its location in Rome, New York, where the company plans to expand its operations, doubling the facility’s production, warehouse and office space.

Per published reports, the Kris-Tech Wire expansion is part of a multi-year campaign to expand operations and product lines into emerging markets. “We’re excited to

continue investing in our people, customers, and community,” President and CEO Graham Brodock said in a press release announcing the project. “This expansion is a statement of our belief in our business and team, and we look forward to yet another one soon.”

When construction ends in early 2024, the Otis Street building will house several added production lines, including Kris-Tech’s recently expanded tray cable division, stocking and storage areas, training rooms and more. The expansion project will also bring a nearby production facility back to Rome. Last year, the company opened a stocking facility in Houston, Texas. A third-generation, family-owned business, Kris-Tech Wire was founded in 1984 by twin brothers Gerry and Glenn Brodock.

Last modified on August 5, 2023

Hellenic Cables has been awarded a contract from TenneT for the turnkey delivery of approximately 36 km of HVAC offshore grid connection cables for offshore wind farms to be developed in zones (N-3.7 and N-3.8) in Germany.

A press release said that the project, being done in partnership with the Jan De Nul Group, is for the cabling that will connect the wind farms to the DolWin kappa converter station, from where HVDC cables transfer the produced energy to shore. Hellenic Cables will be responsible for designing, manufacturing, supplying, terminating, and testing of three 155kV HVAC grid connection cables and associated accessories.

Manufacturing is planned for 2025 in Hellenic Cables’ submarine cable plant in Corinth, Greece, and delivery is expected in Q3 2025. The Jan De Nul Group will handle the cable transportation, laying and protection works. A single cable will be installed between zone N-3.7 and the DolWin kappa converter, covering a length of 16.5 km. The N-3.8 zone will connect to the converter station by two cables, each about 10 km long.

Hellenic Cables is part of Cenergy Holdings, which itself is a subsidiary of Viohalco SA, a Belgian-based holding company that specializes in manufacturing aluminum, copper, cables, steel and steel pipes.

Last modified on August 5, 2023

MW Components has acquired Western Wire Products Company (Western Wire), a wire forming manufacturer with a storied history.

A press release said that the acquisition bolsters the scope of MW Components, which is active in the spring and wire forming industry. Its holdings include Century Spring, Fox Valley Spring, Maryland Precision Spring and over a dozen other locations that produce precision metal components. 

The addition of Western Wire will result in an increased selection of stock, standard, and custom wire forms including cotter pins, hitch pins, spring pins and an array of highly engineered precision metal components. “We are thrilled that Western Wire is joining the MW Components portfolio and hope to strengthen Western Wire’s service and 100+ year history of entrepreneurship.”

The Western Wire website spells out the company’s rich history of the business that was owned by members of the Young family for more than a century before being bought out in 2016 by its CFO, Michael Basler. Below are just two innovations it cites.

Western Wire Products Company was a “family business” even before its 1914 incorporation in St. Louis, Missouri. The company’s origins date back to 1907 when the uncle of its founders invented a machine that made woven wire fabric. The patent on this machine is considered by some historians to be the original precursor to today’s chain link fence.

In 1912, family inventor Ira J. Young, under a different company name (Wire Manufacturing Products) applied for a patent on a machine for forming split pins, later to be known as Cotter Pins. That business later became part of Western Wire, which serves customers in all parts of the U.S., and exports to Europe, South America, Mexico, Asia, Australia, and Canada.

Last modified on December 4, 2023

Taihan Electric Wire (TEW)N announced that it has won a significant power grid project to boost electricity service to Kuwait City, the capital of Kuwait.

 A press release said that the order from the Kuwait Ministry of Electricity and Water & Renewable Energy (MEW) is for an extra-high voltage power grid turnkey project valued at in excess of $65 million. The order calls for building an underground power grid between existing substations to help meet electricity demand in Kuwait City. TEW will supply materials such as 300 kV extra-high voltage cables and connectors, and perform power grid design, installation, connection and testing all at once.

The release noted that the bidding conditions were very stringent, and for the 300-400 kV EHV power grids, “only a handful of European and Japanese companies are qualified to bid.” It noted that TEW, which has successfully completed a number of ultra-high voltage turnkey projects ordered by the Kuwait Water and Electricity Authority, “won the project through fierce competition with leading global companies based on its project execution capabilities and technological prowess.”

In other news, the company notes that it has started construction of a factory that will be the first optical cable production corporation in Kuwait. The goal is to complete the construction by the end of the year.

Last modified on August 5, 2023

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