NKT plans to invest up to €100 million in additional production capacity and capabilities at its medium-voltage factories in Denmark, Sweden and Czech Republic to meet growing demand from customers for medium-voltage power cables required for grid upgrades and renewable energy projects across Europe.

A press release said that the medium-voltage power cable market has grown steadily in recent years driven by the transition to renewable energy and the continued electrification of societies. Electrical grid operators are in the process of conducting major upgrade projects to keep apace. In response, NKT is investing in additional medium-voltage capacity and capabilities spread across three of its production sites in Asnaes, Denmark; Falun, Sweden; and Velke Meziříčí, Czech Republic. The investments in Falun and Velke Meziříčí have started while the investment in Asnaes is now initiated.

“NKT is well positioned ... to strengthen our position as a key partner to our customers in the green transition of societies,” said NKT EVP Head of Applications Carlos Fernandez. “As more renewable projects come online, a major upgrade of the European power grid is needed. Current medium-voltage production and installation capacity is not sufficient to meet the increasing demand in the market. The investments will support NKTs continued growth journey in line with our strategic ambitions and enable vital grid upgrades and renewables projects across Europe.”

In recent years, the Applications business line has optimized its factory footprint across geographies to increase efficiency and specialization. With this process successfully completed, focus has shifted towards expansion of the medium-voltage sites. The investments will add 20-110 kV production capacity and capabilities and further progress layout optimizations of the factories.

The investments across the three sites will strengthen NKTs market leading position. The new production capacity is anticipated to be progressively operational in 2025 and 2026 and the investments will lead to the additional recruitment of around 150 new colleagues. The investments are expected to support NKT’s medium-term financial ambitions including delivering RoCE above 20%.

Elite Harness plans to refurbish an existing facility in Wellington, Kansas, to produce wiring harnesses and custom cables for various sectors, including automotive, industrial, agricultural, aerospace, and other industries requiring electric connections.

A press release said that the company plans to invest $14 million in the initiative, which is expected to create 110 jobs. It plans to convert an existing plant into a 50,000-sq-ft manufacturing plant. Elite Harness will produce wiring harnesses and custom cables for various sectors, including automotive, industrial, agricultural, aerospace, and other industries requiring electric connections.

“We have a sister company (in) Tulsa, so we considered building there, but the State of Kansas and Sumner County really stepped up to the plate and made Wellington a wise choice for us,” Elite Harness President Nathan Smith said in a news release. It notes that the wiring harness and custom cable market is a $90 billion industry poised for significant growth over the next 10 years.

Last October, the Prysmian Group presented the launch of the Group’s new business strategy, Connect to Lead. Now, the world’s largest cable business is furthering that mission with a rebranding—a manifesto—that reflects its vision and goals for the next five years.

A press release said that the initiative “aims at capitalizing on the company’s market position to seize the opportunities offered by the new market trends that are currently shaping the cable industry.” It will allow Prysmian “to transform the Group from a cable player into a cabling solution provider and to lead the energy transition and the digital transformation.”

Per the company, its new brand “represents the energy and technology that moves us towards a more sustainable way of living, in every corner of the planet.” Prysmian’s strong new logo captures the name, mission and legacy of the company, ensuring its recognition and amplifying its distinctive identity. The new logo, in fact, represents all the essential aspects and elements of Prysmian’s identity: the pathways, the shift, the gradient and the circularity.

The logo, primarily developed digitally, reflects the brand’s determination to embrace new strategies and a new corporate purpose. The symbol shape reveals a hidden ‘p,’ in addition to recalling the circular economy concept, while the blue-to-green gradient color reflects the Group’s commitment to the development of renewable energy. The iconic logo, interpreted with a contemporary and dynamic design, connects the concepts of tradition and evolution. The entire visual system and the new payoff “The Planet’s Pathways” embody the role that Prysmian aims to play in shaping a better future and in paving paths for an increasingly sustainable and digital future for our planet.

“Through this rebranding, we are aligning Prysmian’s image to the changes the Group is undergoing and to the rapid evolution of our industrial sector, an evolution we intend to lead,” said Maria Cristina Bifulco, chief investor relations, sustainability and communication officer, Prysmian. “The global challenges and opportunities we are facing require us to put our organization’s strength and expertise at the service of our customers, partners and all our stakeholders to drive new forms of energy and information to every corner of the Earth.

“Together, we can navigate the way forward. And that’s exactly what Prysmian wants to convey with its new payoff, The Planet’s Pathways. This is what inspires our future moves and what guides us in reaching our purpose.”