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[RealWire]

Milan, 13 May 2016. Prysmian Group, world leader in the energy and telecom cables and systems industry, has entered into an agreement for the acquisition of the copper data cable operation located in Austraße 101, 96465 Neustadt b. Coburg, Germany from Corning Optical Communications GmbH & Co. KG.

The acquired business reported sales of approximately 22M € in 2015, and consists of a plant for the production of CAT5, CAT6 and CAT7 cables.

The investment will allow the Group to further expand its presence and speed up growth strategy in the MultiMedia Solutions business segment. In particular the acquired business will enhance the Group’s product offering for high-capacity and flexible cable for data transmission and data centre solutions.

The closing of the acquisition is subject to customary closing conditions.