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Nexans to Close its Cable Factory Dedicated to the Defense Market in the U.S - Elm City factory in North Carolina will cease production on June 30 2016 - Nexans.com
Nexans to Close its Cable Factory Dedicated to the Defense Market in the U.S

 

PRZOOM - /newswire/ - Paris, Ile-de-France, France, 2016/03/31 - Elm City factory in North Carolina will cease production on June 30 2016 - Nexans.com. Euronext Paris: NEX

   
 
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Nexans has announced that its US Subsidiary based in Elm City, North Carolina has decided to close its cable factory focused on the production of defense wires and cables. The decision has been taken in response to both a lack of profitability for the factory combined with the generally unfavourable mid to long term prospects for the defense cable market in the region.

Employees at the Elm City factory have been notified of the closure and production will cease on June 30 2016.

The Nexans Group will continue to service the aerospace and defense cable markets, from the Group’s existing factories in other locations.

Contact: Michel Gédéon Investor Relations
P: +33(0)1 73 23 85 31 - E: Michel.Gedeon[.]nexans.com.

About Nexans

Nexans (nexans.com) brings energy to life through an extensive range of cables and cabling solutions that deliver increased performance for our customers worldwide. Nexans’ teams are committed to a partnership approach that supports customers in four main business areas: Power transmission and distribution (submarine and land), Energy resources (Oil & Gas, Mining and Renewables), Transportation (Road, Rail, Air, Sea) and Building (Commercial, Residential and Data Centers). Nexans’ strategy is founded on continuous innovation in products, solutions and services, employee development, customer training and the introduction of safe, low-environmental-impact industrial processes. In 2013, Nexans became the first cable player to create a Foundation to introduce sustained initiatives for access to energy for disadvantaged communities worldwide. We have an industrial presence in 40 countries and commercial activities worldwide, employing close to 26,000 people and generating sales in 2015 of 6.2 billion euros. Nexans is listed on NYSE Euronext Paris, compartment A.

 
 
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Agency / Source: Nexans S.A.

 
 

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Nexans to Close its Cable Factory Dedicated to the Defense Market in the U.S

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Nexans |
Contact: Angéline Afanoukoe - Nexans.com 
+33(0)1 73 23 84 12 angeline.afanoukoe[.]nexans.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Nexans S.A. securities in any jurisdiction including any other companies listed or named in this release.

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