Prysmian Group is planning to invest an additional $100 million over the next two and half years to increase its North American plant’s production capacity. The aim is to support expected growth in the power distribution and transmission markets, helping meet the need for infrastructure upgrades in the region and the growing demand from clean energy sources. This investment follows the Group’s recent announcement to invest $85 million in its North American telecom plants to consolidate its role as an enabler for the energy transition and digital transformation across North America.
“The decision to increase the production capacity of our plants reinforces the Group’s commitment to North American customers” commented Prysmian’s North America CEO Andrea Pirondini. “More specifically, these investments will further increase capacity to support breakthrough projects, reinforcing the Group’s position in building the USA’s clean energy grid.”
Following the SOO Green HVDC Link project announced in late June, Prysmian Group is also taking steps to help the region’s decarbonisation effort. “The adaptation of the production capacity of the plants in North America is an important part of our Group investment plan, which testifies to Prysmian's commitment to support together with our customers the energy transition and the Race to Net Zero emission” said Massimo Battaini, COO of Prysmian Group. “We are proactively engaging with our customers and our suppliers to promote the decarbonisation of our supply chain.”
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