Nexans Expands Its Electrification Presence in the Nordics
Nexans SAย has signed a share purchase agreement withย Reka Industrial Plcย to acquireย Reka Cablesย forย โฌ53 million. This strategic acquisition enhances Nexansโ position in the Nordic region, particularly in electricity distribution and electrification projects.
Founded inย 1961, Reka Cables employs aroundย 270 peopleย and specializes inย low- and medium-voltage cable manufacturing. The acquisition reflects Nexansโ commitment to expanding in key markets and accelerating the transition toward carbon-neutral energy solutions.
Strengthening Nexansโ Position in Northern Europe
Reka Cables operates acrossย four countriesย and reportedย expected 2022 revenues exceeding โฌ160 million. Once regulatory approvals are completed, Nexans expects toย finalize the deal in the first half of 2023.
This acquisition adds production expertise and local capabilities to Nexansโ Nordic operations, improving supply chain resilience and regional coverage in Europeโs growing electrification market.
Commitment to Energy Transition and Carbon Neutrality
Reka Cables achieved a major sustainability milestone inย November 2021, becoming one of the first cable manufacturers to reachย carbon neutrality under Scope 1 and Scope 2 emissions. This commitment aligns directly with Nexansโ corporate strategy to support the global energy transition and reduce environmental impact.
โNexans and Reka Cables share the same vision for a sustainable future,โ saidย Christopher Guรฉrin, CEO of Nexans. โRekaโs dedication to carbon neutrality complements our goal of becoming a pure electrification player focused on achieving carbon neutrality byย 2030.โ
Jukka Poutanen, CEO of Reka Cables, added, โJoining Nexans represents an excellent opportunity to accelerate our innovation efforts. As global leaders in electrification and clean energy, we can create real value for customers and communities.โ
Driving Growth Through Electrification
By acquiring Reka Cables, Nexans continues its transformation into a global electrification leader. This move strengthens Nexansโ ability to deliver high-performance cable systems that power renewable energy, sustainable infrastructure, and modern industrial solutions across Europe and beyond.
