Prysmian Buys Facab-Lynen

Facab-Lynen had revenue of €62M in 2007

June 3, 2008

1 Min Read

MILAN -- Prysmian, a worldwide leading player in the energy and telecom cables sectors, announces the closing of the transaction for the acquisition of 100% of German cables manufacturer Facab Lynen Gmbh & Co. KG. With sales of €62 million in 2007, one manufacturing plant and 270 employees, Facab-Lynen is a German leading player in the higher value-added market of industrial cables, in particular for renewable energy, transport and mining sectors.

The financial structure of the operation foresees for Prysmian a global acquisition cost of approximately €29 million, that include, in addition to the price of €3.5 million (subject to adjustment), the consolidation of Facab-Lynen net financial debt amounted to €13 million in 2007 and the pension fund liabilities.

The strategic plan to reinforce Prysmian's presence in German market envisages to bring Facab-Lynen's profitability to the same levels of the Group, through increases in production capacity and the integration of facilities.

Prysmian SpA

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