Prysmian Group

Prysmian Group is an Italian multinational focused on cable systems and related infrastructure for energy transmission, power distribution, telecommunications, construction, transportation and industrial applications. Headquartered in Milan, the group operates internationally through manufacturing facilities, engineering capabilities and installation services across Europe, North America, Latin America, Asia-Pacific and the Middle East, Africa and Turkey. Its portfolio spans high-, medium- and low-voltage power cables; underground and submarine transmission systems; cables for renewable-energy projects; optical fibre and fibre-optic cables; copper telecommunications cables; and specialised products for sectors such as automotive, aerospace, rail, mining, oil and gas, data centres and industrial automation. The business traces its roots to Pirelli Cavi e Sistemi, whose early cable activities began in 1879. In the late nineteenth and early twentieth centuries, the company developed submarine telegraph cables, supported Italy's national telegraph and telephone networks, and participated in the electrification of Milan. Its historical activities also included long-distance and international communications infrastructure. The modern Prysmian company was formed in 2005 after Goldman Sachs acquired Pirelli's cables and systems business. Prysmian subsequently became a publicly traded company, listing in Milan in 2007. A major expansion occurred in 2011, when Prysmian acquired Dutch cable producer Draka. The transaction broadened the group's geographical reach and strengthened its position in optical fibre and telecommunications cables. In 2017, Prysmian agreed to acquire General Cable, a large United States-based competitor. The transaction was completed in 2018 and created a substantially larger global cable group, with operations in more than 50 countries and a broad manufacturing and service footprint. General Cable added significant North American, Latin American and other international operations, as well as further exposure to power, construction and communications markets. Prysmian combines product manufacturing with project design, cable-laying, system integration, testing and maintenance. This is particularly important for high-voltage underground and submarine links, offshore wind-farm connections and other infrastructure projects where cable supply is only one part of the customer requirement. The group is widely associated with cable systems for renewable energy, including offshore wind, and with large-scale interconnection and grid-modernisation projects. Research and development is central to the company's competitive positioning. Prysmian has developed high-performance optical-fibre and cable technologies such as BendBrightXS, designed to improve fibre performance where cables must withstand tight bends, and FlexRibbon, a high-density optical cable architecture. Its P-Laser technology is intended to provide high-voltage cable performance while using recyclable materials and reducing environmental impact compared with conventional cable technologies. The company has also invested in sustainability initiatives covering emissions, materials, energy use and supply-chain performance. The group operates a fleet and project capability for submarine cable installation, including the Leonardo da Vinci vessel, introduced as a major addition to its cable-laying capacity. Prysmian's current business scope therefore extends beyond the traditional image of a cable manufacturer: it is also an engineering and infrastructure-services provider whose products support electricity decarbonisation, grid expansion, digital connectivity and industrial communications.

Prysmian's corporate history reaches back to 1879, when the cable business that later became associated with Pirelli Cavi e Sistemi was established. The company entered submarine communications early: in 1881 it obtained a contract for submarine telegraph cables used in military engineering, and in 1886 it opened a dedicated submarine-cable plant in La Spezia. These activities helped establish technical capabilities in long-distance communications, cable insulation and marine installation. During the following decades, the business participated in the construction of Italy's communications infrastructure. It supplied cables for the national telegraph network and contributed to the development of Milan's domestic electricity grid. It also undertook communications-related work in Italian East Africa. In 1925, it produced thousands of kilometres of submarine telegraph cable for Italcable's communications links between Italy and South America. Cooperation with the Italian government continued through work on the interurban telephone network. The business later developed into a broad cable and systems operation within the Pirelli group. Its activities expanded from telecommunications and electricity infrastructure into industrial cables and specialised applications. In 2005, Goldman Sachs acquired Pirelli's cables and systems division and established Prysmian S.r.l. as an independent business. After organisational restructuring, Prysmian pursued a more focused cable strategy and prepared for a public-market listing. Prysmian became listed on the Milan stock exchange on 3 May 2007 and joined the S&P MIB index later that year. Goldman Sachs reduced and ultimately exited its investment by March 2010. The company then entered a period of international consolidation. In 2011, Prysmian completed a takeover of Dutch cable manufacturer Draka for approximately €840 million. Draka was a significant producer of cable and optical-fibre products, and the acquisition strengthened Prysmian's position in communications technology and expanded its international operations. The next major step was the purchase of General Cable, announced in December 2017 and completed in 2018. General Cable, headquartered in the United States, was a substantial competitor with operations across multiple regions. The transaction was valued at approximately US$3 billion, including equity consideration and the assumption or refinancing of debt. It combined Prysmian's existing global position with General Cable's manufacturing, distribution and customer relationships, creating a group with operations in more than 50 countries and tens of thousands of employees. Following the acquisition, Prysmian operated a large network of plants and project locations across Europe, North America, Latin America, Asia-Pacific and the Middle East, Africa and Turkey. Its business was organised around energy and telecommunications, with additional specialised cable activities. The company increasingly combined manufacturing with engineering, installation and maintenance, allowing it to bid for complete cable-system projects rather than only supplying cable products. Innovation has remained a recurring theme. Prysmian has invested in optical-fibre technologies for high-density and difficult installation environments, including BendBrightXS and FlexRibbon. In power cables, P-Laser technology has been promoted as a recyclable and lower-impact alternative for selected high-voltage applications. The group has also built capabilities for offshore wind and submarine interconnection projects, areas supported by the expansion of its cable-laying fleet. The Leonardo da Vinci vessel, introduced in the early 2020s, strengthened its ability to install large submarine cables. The company's present identity is consequently shaped by several overlapping legacies: nineteenth-century submarine telegraph engineering, twentieth-century national electrification and telecommunications work, the separation of the cable business from Pirelli, and later consolidation through the Draka and General Cable acquisitions. Prysmian now presents itself as an infrastructure technology group serving the energy transition and the growth of digital networks.

1. 2021Leonardo da Vinci cable-laying vessel

   Prysmian introduced the Leonardo da Vinci vessel to support submarine cable installation, including offshore wind and interconnection projects.

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2. 2018General Cable integration

   The General Cable transaction was completed, materially increasing Prysmian's geographic reach, manufacturing capacity and customer base.

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3. 2017Agreement to acquire General Cable

   Prysmian agreed to acquire General Cable in a transaction valued at approximately US$3 billion.

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4. 2011Acquisition of Draka

   Prysmian completed an approximately €840 million takeover of Dutch cable and optical-fibre producer Draka.

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5. 2007Milan stock-market listing

   Prysmian shares began trading on Borsa Italiana on 3 May, and the company later joined the S&P MIB index.

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6. 2005Prysmian is established as an independent cable business

   Goldman Sachs acquired Pirelli's cables and systems business and created Prysmian S.r.l.

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7. 1925South American communications cable production

   The company produced approximately 5,150 kilometres of submarine telegraph cable for Italcable's Italy–South America communications links.

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8. 1886Submarine cable plant opens in La Spezia

   A dedicated submarine cable manufacturing facility opened in La Spezia, Italy.

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9. 1881First submarine telegraph cable contract

   The company secured a military-engineering contract to produce submarine telegraph cables.

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10. 1879Origins in the Pirelli cable business

    The business that ultimately became Prysmian originated as Pirelli Cavi e Sistemi.

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A global cable-systems and infrastructure partner positioned around energy transition, grid modernisation, renewable-energy connectivity, digital communications and technically demanding cable-installation projects.

• Energy transmission and distribution cablesEnergy cables

  Prysmian manufactures underground, submarine and overhead-related cable systems for electricity transmission and distribution. The portfolio covers high- and extra-high-voltage systems for interconnectors and grid infrastructure, as well as medium- and low-voltage products used in distribution networks, buildings and infrastructure projects. The group can also provide engineering, accessories, testing, installation and maintenance.

• Renewable-energy and offshore wind cablesRenewable-energy infrastructure

  These systems connect offshore wind farms and other renewable-energy assets to collection networks and onshore grids. They include submarine export and inter-array cables, accessories and installation services. Prysmian's position in this segment is supported by its submarine-cable manufacturing and cable-laying capabilities.

• Optical fibre and fibre-optic cablesTelecommunications

  The telecommunications portfolio includes optical fibre, fibre-optic cables and high-density architectures for broadband, data, video and voice transmission. BendBrightXS is designed for applications requiring improved bend performance, while FlexRibbon supports very high fibre counts in a compact cable structure. Products serve network operators, infrastructure providers and data-intensive communications applications.

• Copper telecommunications cablesTelecommunications

  Prysmian also produces copper-based telecommunications cables for voice and data networks. These products reflect the group's historical role in communications infrastructure and complement its optical-fibre range in networks where copper remains in use.

• Industrial and specialised cablesIndustrial cables

  Specialised cables are designed for industrial, construction, transportation and other demanding environments. Depending on the application, they may support power, control, instrumentation, data or communications. The broader General Cable and Prysmian portfolios provide products for infrastructure and industrial customers requiring application-specific performance.

• P-LaserHigh-voltage cable technology

  P-Laser is Prysmian's high-voltage cable technology platform. It uses recyclable materials and is promoted as a way to combine transmission performance with lower environmental impact and manufacturing efficiencies. The technology is intended for selected power-grid applications and reflects the group's focus on sustainability in cable design.

• Leonardo da VinciCable installation asset2021

  Leonardo da Vinci is a large cable-laying vessel introduced by Prysmian to expand its capacity for submarine power-cable installation. The vessel supports offshore wind connections, interconnectors and other subsea infrastructure projects, complementing the group's cable manufacturing and project-engineering operations.

• 2021Expand submarine installation capabilityProduct launch

  Growth in offshore wind, grid interconnection and submarine power transmission increased demand for specialised installation capacity.

  What changed. Prysmian introduced the Leonardo da Vinci cable-laying vessel.

  Aftermath. The vessel strengthened the group's ability to deliver large submarine cable projects together with its manufacturing and engineering services.

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• 2017Acquire General CableM&A

  Prysmian aimed to increase its global scale and complement its existing energy and telecommunications cable business with General Cable's international operations.

  What changed. Prysmian agreed to acquire General Cable for approximately US$3 billion, subject to regulatory approval, and completed the transaction in 2018.

  Aftermath. The combination created a larger cable group operating in more than 50 countries, with expanded manufacturing capacity and a broader customer base.

  Transaction value. Approximately US$3 billion (Announced 2017; completed 2018)

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• 2011Acquire DrakaM&A

  Prysmian sought to expand its scale and strengthen its position in cable and optical-fibre markets.

  What changed. It made and completed an approximately €840 million takeover of Dutch cable producer Draka.

  Aftermath. The transaction broadened Prysmian's international footprint and increased its capabilities in telecommunications and optical fibre.

  Transaction value. Approximately €840 million (2011)

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• 2021Prysmian introduces the Leonardo da Vinci cable-laying vessel

  Prysmian confirmed the launch of the Leonardo da Vinci, a large cable-laying vessel intended to support submarine power-cable installation and offshore renewable-energy projects.

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• 2018General Cable acquisition completed

  The acquisition of General Cable was completed after regulatory approvals, bringing the two major cable businesses together under Prysmian.

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• 2017Prysmian agrees to acquire General Cable

  Prysmian announced an agreement to acquire General Cable in a transaction valued at approximately US$3 billion, expanding its scale and international manufacturing footprint.

  M&A
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1. Prysmian Group