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Prysmian to invest $110 million in construction of new plant in Brazil

Prysmian Cables & Systems has signed a four-year frame agreement with Brazil's Petrobras for the design and supply ...


June 4, 2008  


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Prysmian Cables & Systems has signed a four-year frame agreement with Brazil’s Petrobras for the design and supply of flexible pipes for the company’s offshore oil and gas extraction.

In addition, Prysmian will invest around US$110 million for the construction of a new plant in Brazil.

The new plant production, which will be partly covered by the first supply agreement with Petrobras, will allow capacity for potential business development in the future.

Prysmian’s industrial cables business in 2007 recorded sales of 795 million Euro with Oil, Gas and Petrochemical (OGP) products representing more than 25% of that total.

Prysmian’s OGP product offerings include Airguard and umbilical technologies, submarine power cables, onshore and offshore cables, optical fiber and telecom cables.