Prysmian Group to invest in an excellence centre in Brazil

Milan - Prysmian Group will invest 45 million euros to build its new global Centre of Excellence for Latin America in Brazil. The Group issued a note specifying that once fully functional, the Centre will represent a competitive hub serving the local wire and cable market, and will contribute to increasing Brazilian exports.

"The investments in these new facilities show Prysmian's commitment to the Brazilian and South American markets and the willingness to pursue growth in these regions" said Marcello Del Brenna, CEO of Prysmian South American. The Group's new global Center of Excellence in Brazil, which will be built in the same facilities of the company's plant in Sorocaba (Sao Paulo), is due to become operational by the end of 2018.

The Group's unit located in Santo Andre (Sao Paulo) will be moved to be part of the centre, which will be one of Prysmian's most modern factories and offices facilities in the world. "The investment in Brazil is part of the Group's strategic investment plan to further strengthen our global presence with a solid vision of long term economic, social and environmental sustainability" stated Andrea Pirondini, Chief Operating Officer of Prysmian Group.