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INSIGHT, il terzo numero magazine di Prysmian Group
EDITORIAL COLUMN The far-sighted decision to merge Prysmian and Daka has been further justified by markedly improved financial results in the first nine months of 2012. The diversification and synergies were essential to preserve sales, and to increase margins and profitability. The positive results for the period, along with the confirmed outlook for the full year, are reported in detail on the following pages. Customer centricity is absolutely essential in business. At Prysmian this is not just a slogan. In this issue of INSIGHT we ask Paolo Carullo, who is responsible for the Prysmian Quality Management System, to explain how they place clients at the heart of the Prysmian world. As also illustrated by Lorenzo Caruso, Head of Communications, the new Group website, designed specifically to provide Prysmian stakeholders with an even better experience, is a major part of this focus. In this same issue we explore Prysmian’s contribution to one of modern society’s major concerns: the safety of ever larger and taller buildings. These buildings depend almost entirely on cables to function properly and free of fire-risk. The excellence of Prysmian cables is a symbol of the safety of buildings all across the planet. At the same time, Volker Wendt of Europacable explains why higher industry standards and stricter controls are needed to make people and buildings even safer in the future. Prysmian Group often plays a part in major projects whose impact goes beyond a single industry achievement. That is certainly the case with the power-link between Italy and Montenegro, a Balkan connection of strategic importance for the whole of Europe. Editorial Team - INSIGHT When the customer is at the centre INSIGHT is the quarterly review of Prysmian Group created and published by the Corporate & Business Communications Dept. For information:[email protected] Contents Quarterly overview Profitability improving markedly 3 Diversification keeps sales stable as margins improve further 4 Telecom cables profit continues to grow 5 Focus on Improving quality for clients 6 A customer-centric website 7 Global scenario Fire safety depends on cables 8 Committed to quality 9 Doing business The Balkan connection 10 Offshore contract in Indonesia 10 Getting things done Clean energy: Prysmian joins Norstec 11 Worldwide News from Prysmian Group 12
3 Prysmian Group Insight 3 Prysmian Group Insight Prysmian Group’s financial statements for the first nine months of 2012, approved by the Board of Directors on 8 November, have confirmed an improvement in profitability against a background of stable sales. The improvement in profitability indicators for the third straight quarter means adjusted EBITDA for the full year is likely to be in the upper end of the €600-€650 million range, against €568 million in FY 2011. CEO Valerio Battista explained that the “marked improvement in profitability” was mainly due to synergies from the integration with Draka. He stated that the growth in profitability consolidated the recovery started in 2011, while on the commercial front, during the last few months “we have been awarded some of the world’s biggest contracts for power transmission systems”. Those contracts took Prysmian’s order book to the record level of €2.5 billion at the end of October 2012.In presenting the first nine months’ results for 2012, Prysmian Group reported that the macro-economic environment in the first half of 2011 confirmed the initial signs of recovery already seen in 2010, albeit with very low growth rates and at levels still well below those seen prior to the 2008 financial crisis. However, the second half of 2011 and first nine months of 2012 were affected by growing concerns about Eurozone and US debt sustainability. This has led to a sharp deterioration in business confidence and a gradual slowing of industrial output and demand. The gradual deterioration in macro-economic conditions, however, did not prevent Prysmian Group from confirming its positive indications for the full year. The expected EBITDA for the full financial year 2012, related to development of demand on the reference markets in the last quarter of the year, has been confirmed in the upper end of the guidance (€600-€650 million), including the consolidation of Draka for the full year (in 2011 Draka was consolidated only from 1 March onwards.)The expected increase in profitability results not just from integration with Draka, but from the growth in higher value-added business areas. In fact, during 2012 Prysmian Group has continued the integration of Draka so as to optimise and rationalise the new Group’s organisational and production structure. This will further strengthen its presence in all areas of business and deliver the projected cost synergies. Financial analysts covering Prysmian Group have kept a positive view on the stock with an average target price of €16.8. Here are a few examples. Kepler Capital Markets confirmed its BUY recommendation and upped its target to €16.0 from €15.7 noting that the mid-term outlook, combining the recovery of growth in a cyclical business and cost efficiencies, is positive. Morgan Stanley confirmed its BUY rating and raised the target to €17.0 from €14.1 saying that it still believes the market is not pricing in its positive view on long-term transmission spending fully, and that it continues to see margin upside from increased exposure to submarine high-voltage (HV), as well as ongoing solid execution on cost synergies. UBS also increased both the target price, to €18.0 from €14.0, and the rating, to BUY from NEUTRAL, citing Prysmian’s strong order book for high-margin submarine and high-voltage businesses. Prysmian real time share price QUARTERLY OVERVIEW Analysts see further upside Profitability improving markedly
QUARTERLY OVERVIEW Diversification keeps sales stable as margins improve further In the first nine months of 2012 Prysmian Group has generally succeeded in offsetting the effects of the persistent difficulties in some European markets. This has been thanks to the contribution of major projects for submarine power lines, where it is the world leader, and to greater geographic diversification. Sales were stable at €5,930 million. A strong upturn in demand of 10.9% in North America and positive signs in South America (+1.3%) offset the impact of a 2.2% downturn in EMEA and a 3.3% contraction in Asia Pacific. Group adjusted EBITDA climbed 9.8% to €468 million as the ratio of margin to sales improved to 7.9% (against 7.1% in the same period of 2011). The improvement in profitability is attributable to the good performance of the Submarine and Industrial businesses in Energy and of the entire Telecom segment. The contribution of overhead cost reductions achieved through synergies with Draka has also played a crucial role in improving profitability, and the integration process is generally proceeding faster than expected. 4 Prysmian Group Insight Group EBITDA rose to €402 million from €148 million against the same period in 2011, while group adjusted operating income rose 11.2 % to €349 million. Amortisation and depreciation charges increased on the corresponding nine months last year due to the full impact of higher amortisation and depreciation charges resulting from the increase in Draka’s asset values. Group operating income was €295 million compared to a loss of €53 million in the previous year. Net finance income and costs, including the share of income/(loss) from associates, reported a negative balance of €85 million, slightly down from the consolidated figure of €86 million for the first nine months of 2011.Adjusted net profit increased by 15.5% to €194 million while the reported net result climbed to a positive €149 million from a negative €159 million in the first nine months of 2011. Net financial position at the end of September 2012 amounted to €1,446 million, compared to €1,064 million as of end 2011 and to €1,389 million as of 30 September 2011. Adj. EBITDA margin by business 11% Utilities T&I Industrial TLC Total 3.7% 7.3% 10.6% 7.9% Sales breakdown by business Utilities 28% Industrial 23% Telecom 19% T&I 28% Other 2% €5.9 bn €5.9 bn Sales breakdown by geografy EMEA 63% Latin America 9% APAC 14% €5.9 bn N. America 14% 9M 2012 results presentation
5 Prysmian Group Insight QUARTERLY OVERVIEW Telecom cables profit continues to grow Energy Key features of the Energy business include: order books for high voltage underground and submarine cables at a record level of €2.5 billion, weak demand in power distribution, increased profitability of the Industrial business, positive performance in Oil & Gas, Trade & Installers business stable and slight recovery in margins. Telecom Key features of the Telecom business in the first nine months of 2012 include: demand holding up for optical cables as it stabilised in the third quarter, positive performance for OPGW and MMS and significant increase in profits. The results of the first nine months of 2012 also showed record order books for high voltage underground and submarine cables while the Industrial business increased its profitability. Sales to third parties by the Energy Cables and Systems segment were stable at €4,801 million, while adjusted EBITDA increased by 5.5% to €348 million. Sales to third parties by the Utilities business posted a slight organic increase to €1,678 million, thanks to a positive third-quarter performance which neutralised the decline experienced in the previous two quarters.Adjusted EBITDA amounted to €185 million. The phasing of a number of important transmission projects points towards a significant recovery in profitability in the last quarter of the year. Although the lower level of demand experienced by the high voltage underground business has generally reflected the uncertain macro-economic conditions, particularly in Europe, signs of a recovery in sales surfaced in the third quarter, especially in North America and countries with growing demand for energy infrastructure, such as Russia, China and the Middle East. The order book remains at a good level, providing sales visibility for about one year. Profitability is expected to increase significantly in the last quarter of the year. The Submarine cables and Sales to third parties by the Telecom Cables and Systems segment decreased slightly to €1,129 million, down organically 1.4% on the pro forma figure for the first nine months of 2011. Although growing over the period as a whole, demand for optical cables showed a few signs of stabilisation and decline in the third quarter, especially in North America and Brazil due to the exhaustion of government incentives. In Europe, sales growth was reported in several countries. In China, the positive trend was confirmed. In Australia, performance was in line with expectations. The Multimedia Solutions business confirmed a significant increase in profits, mainly thanks to cost reduction, while the OPGW business enjoyed significant growth in Spain, Brazil, Middle East and Africa. Adjusted EBITDA increased by 25.4% to €120 million. Margins also improved, with the ADJ EBITDA on sales ratio climbing to 10.6% from 8.7% in 2011. systems business line reported a positive sales performance thanks to progress on the numerous power lines and renewable energy development projects in its portfolio. The value of the order book has reached record levels, assuring sales visibility for nearly three years. During the third quarter the Group also strengthened its project implementation capability through the acquisition of Global Marine Energy (completed in November), a British company specialising in installing submarine systems. Demand in the Power Distribution business has continued to be generally weak as Central and Southern Europe have particularly suffered, while signs of a recovery have been confirmed in North and South America. Sales to third parties by the Trade & Installers business amounted to €1,653 million, posting a small organic decrease as demand showed further signs of contraction in Europe, while the upward trend was confirmed in North and South America and in Asia. Actions aimed at improving efficiency produced an increase of 8.8% in adjusted EBITDA to €62 million and an improvement in margin to sales ratio to 3.7%. Sales to third parties by the Industrial business posted an organic increase of 2.7% to €1,371 million. The Elevator cables business delivered positive sales and earnings in all regions, while the Automotive cable market was weak in Europe while volumes grew in Asia, in North and South America. The Group reported also a positive trend in sales and margins in the oil sector. Adjusted EBITDA jumped 26.3% to €101 million while margins improved to 7.3% from 6.0%.
in practice,” Carullo points out. “PQMS, consisting of a manual and of 20 operational procedures, identifies locally-applied best practices, which are then elaborated and extended across the Group worldwide.” The Quality team led by Carullo is currently working on a new IT tool for the calculation of the costs arising from non-quality. Carullo explains that, “Our rules are guidelines, shared by all the functions involved. They set out the working parameters that frame any given work activity and represent the minimum requirements that every part of the Prysmian Group must comply with.”“Once the new rules have been disseminated, local functions are responsible for their application; in addition to regular local controls, we also run an annual series of audits to check on the proper application of the PQMS and the general health of manufacturing processes.” The initiatives first put in place in 2009 have led to a series of significant results. “We noticed higher levels of motivation and Paolo Carullo, who has responsibility for the Prysmian Quality Management System (PQMS) , says that its primary goals are “to create happier clients, to place them at the centre of Prysmian’s world and to make a proactive contribution to Group results”. Carullo, along with his team, is committed to the daily construction, application and monitoring of the PQMS – a system that sets the qualitative standards designed to maximise efficiency and effectiveness. It is a clear system of rules that sets out well-defined responsibilities with clear, unambiguous instructions. “We have defined operational procedures that don’t just exist on paper but that can always be applied 6 Prysmian Group Insight FOCUS ON Improving quality for clients Paolo Carullo explains how the Prysmian Quality Management Systemworks and how it delivers customer satisfaction. involvement in all our people from the outset. In the three years since, we have seen marked improvements in performance indicators, not least a 30% reduction in the number of complaints, one of the most important measures of customer satisfaction.” Carullo and his team are currently working on a new project for the accurate calculation of the costs arising from non-quality. Their aim is to reduce such costs and therefore make a direct contribution to improved company results. Auditing and regular monitoring of key performance indicators have highlighted quality hotspots, where corrective actions have been put in place. In the vast majority of cases, these actions have proved swift and effective. Cooperation between local teams, under the guidance of their respective Quality functions, has proved decisive: 30 or so Quality Managers worldwide supervise the proper application of the guidelines in the various countries/Business Units as well as within the dedicated Quality organizations of each manufacturing facility.
7 Prysmian Group Insight A customer-centric website When new customers log on to a website, it is every company’s opportunity to make a positive first impression. The new Prysmian Group website was launched in November 2012 with the clear aim of affirming and strengthening a policy of ‘customer centricity’. Following the merger with Draka, www.prysmiangroup.com is the website for the entire Group superseding about 50 sites previously operated by these two multinational companies. The new website is an effective reference point for all stakeholders, presenting the latest and most up-to-date information about the Group’s products, projects, contracts, financial results and investments. Strengthening the Group’s customer centricity in this way gives them a complete understanding of Prysmian Group products and solutions. There are several key facts about www.prysmiangroup.com that make it a benchmark not just in our industry, but in the world of business. It represents 17 businesses represented in 1,700 pages, with a 1,600 product descriptions/brochures/catalogues. New completely revised and improved sections for businesses, IR, people and Corporate Social Responsibility have been introduced. It makes extensive use of videos, photos and innovative graphics while including also publications and posts about key Group events and news. The Group new website optimises the search engine visibility with high-end interactive search tool based on 2D drawings called ‘applications finder’. This helps every user find the right information, with or without product knowledge. “The development and launch of the new website has been a huge project,” comments Lorenzo Caruso, FOCUS ON The new www.prysmiangroup.com is focused 100% on user experience, ensuring visitors get a complete understanding of the Group’s services. Corporate & Business Communications Director. “The different go-to-market approaches of Prysmian and Draka had to be unified to meet the Group’s new organisational model.” Caruso pointed out that, “the new website is by no means an ‘end-goal’ but rather a work in progress. We are continuously working to improve the website, because our ultimate goal is to provide our stakeholders with a tool that evolves every single day.” Focused 100% on the user experience, the new site is self-explanatory, with information quick and easy to find. As a digital solution, it is absolutely state-of-the-art. The modular structure enables visitors to have a single point of access to both corporate and business sections.
8 Prysmian Group Insight Volker Wendt, Director Public Affairs of Europacable , the association of the European wire and cable industry, has little doubt when asked to summarise what makes the difference between safe and unsafe cable installations in modern buildings: resistance and reaction to fire. In this interview we also learn that compliance to European standards accompanied by a neutral, third-party certification is essential if users want to have complete confidence in the fire performance of the cables they purchase. Mr. Wendt, let’s start at the beginning. How much does the safety of a modern building depend on cables? Fire safety in buildings has dramatically changed. In the 1950s the average time from ignition to flashover was about 15 minutes. Nowadays, with the increased ‘fire load’ in buildings, notably from electric and electronic devices, it can be as little as three minutes. State-of-the-art cable technology contributes to the safety GLOBAL SCENARIO Fire safety depends on cables Volker Wendt, Director Public Affairs of Europacable, warns of sub-standard products. of modern buildings by ensuring these devices function safely. Cables are normally not the cause of a fire, but they can propagate it. Therefore fire resistance and reaction to fire are vital to maximise escape times. at high temperatures, ensuring that emergency lights, and sprinkler and communication systems, for example, continue to function. ‘Reaction to fire’ refers to the amount of smoke released when the cable is aflame. It’s worth remembering that smoke kills more often than flames. That is why we need to reduce the smoke emitted from the cable as much as possible. The standards our industry complies with ensure a high level of fire safety in relation to both of these factors. The greatest risk to consumers is the possibility of sub-standard products entering the European market. Is the public and are the policy makers sufficiently aware of this? No, unfortunately not. In Europe, high standards are in place and the CPR has created a framework to regulate the fire performance of cables in buildings. However, even for experts it’s difficult to distinguish a safe cable from a sub-standard product. We certainly need higher awareness among the public, the construction industry and fire fighters. This is why Europacable is a technology partner of the European Fire Academy. What exactly do you mean by “resistance and reaction to fire”? ‘Resistance to fire’ means the ability of cables to continue operating even Volker Wendt Director Public Affairs Europacable
9 Prysmian Group Insight Committed to quality GLOBAL SCENARIO Prysmian Group has always been committed to designing and manufacturing state-of-the-art, fire- resistant and low fire-hazard cables . Continuous development of these products protects not just buildings, but lives. The Group offers a range of cables with different reactions to fire performance, relating to specific user needs and applications. These include: hospitals and old people’s homes, schools and recreational buildings, museums and historical buildings, undergrounds and tunnels, shopping centres, railway stations and airports, discotheques and nightclubs, theatres and cinemas, hotels and offices, high-rise buildings. The fire safety of worldwide architectural icons and public infrastructures, as well as millions of private homes, is dependent on Prysmian cables. In fact, some of the world’s most prestigious buildings are testament to Prysmian cable applications. The Burj Khalifa, the world’s tallest building; the Guggenheim Museum in Bilbao; the Drax Power Station in UK, the largest renewable biomass co-firing project anywhere in the world; the Teatro Colon in Buenos Aires, Argentina, a historic national monument and one of the best theatres in the world. These are just a few examples.Prysmian has developed a wide range of fire and smoke-proof cables. The Afumex family of cables combines low flame-spread and heat-release with very low emission of smoke and dangerous gases. This gives more time to escape and a less hazardous environment for rescue teams. Fire-resistant cables, including well-established brands such as FIRESTOP, AFUMEX FIRST, RF 31-22, SIENOPYR, FP and AFUMEX FIRS also assure the continuity of power and signal supply. Thanks to Prysmian’s involvement, specific rules are likely to be adopted in Europe to define and regulate standards for low fire-hazard cables, mainly in buildings with a high concentration of people. National authorities, electricity professionals and end-users will be able to specify safer cables. It is hoped that the use of certified low fire-hazard cables will become mandatory in hospitals, airports, undergrounds, theatres and historical buildings.Prysmian’s response to this is a constant focus on being the partner of choice for clients and a global supplier capable of meeting the specific needs of each country’s customers. Prysmian Group used 350 km of high-tech fire-resistant cables to enhance the safety of The Shard, Western Europe’s tallest building. Prysmian is well aware of the risks linked to sub-standard products entering the market. That is why the company is so strongly committed to helping strengthen the regulatory framework.
10 Prysmian Group Insight DOING BUSINESS The Balkan connection Prysmian Group has won a €400 million contract for the construction of a new submarine power link between Montenegro and Italy. The project , awarded in a public tender launched by Italy’s transmission group Terna and known as MON.ITA, involves supply and installation of one of the two poles of the interconnection and placement of an extra-high voltage, direct current (500 kV) subsea cable system with a rated power of 1,000 MW and a length of about 415 km, at depths of up to 1,200 metres. Specialist civil works will be carried Offshore contract in Indonesia Prysmian Group has been awarded a $21 million project on behalf of ConocoPhillips via Navigat/Specindo for the design, engineering and supply of three different types of electro-hydraulic umbilicals, measuring a total of 27 km. Prysmian will also supply thermoplastic hoses plus the top-side and sub-sea accessories. The deal is part of the South Belut offshore development project in Indonesia, a field in Block B of the Natuna Sea, approximately 10 km south of the North Belut field. The reservoir measures about 10 km east to west and 3 to 4 km north to south. The offshore development project consists of eight subsea wells (plus three future wells). These will be located at a maximum offset distance of approximately 20 km from the North Belut Central Processing Platform (NBCPP) and at a water depth of approximately 102 metres. This electro-hydraulic umbilical system is designed to facilitate distribution of chemical and hydraulic services and electrical power and communication as required. The umbilicals will be manufactured in Prysmian Group’s new centre of technological and manufacturing excellence in Vila Velha (Brazil). The plant is dedicated to SURF products (Subsea Umbilicals, Risers and Flowlines) and produces both steel and thermoplastic umbilicals as well as flexible pipes for offshore oil and gas extraction. “Over the last few years we have committed investment and resources to the development of a state-of-the-art range of SURF products in Brazil. The South Belut project is a further significant step in the Group’s international development strategy, ” states José Luiz Dacal Castro, Vice President and Head of Prysmian’s SURF Business Unit. alone, of €40 million. The marine cable will be laid down by the ‘Giulio Verne’ vessel. The MON.ITA project will enhance Prysmian’s unique track record in the field of deep-water cable systems, which already includes SA.PE.I. (with a record max. depth of 1,650 metres), the Majorca-Iberian Peninsula link (with a max. depth of 1,400 metres) and the Italy-Greece link (with a max. depth of 1,000 metres).Prysmian’s track record of completed and ongoing projects is further evidence of the group’s leading role in the development of interconnections for increasingly efficient and sustainable power transmission grids in Europe and worldwide. out both in Italy and in Montenegro, and Prysmian will provide supply and installation of the marine electrodes to enable the system’s emergency operation. The marine cables for the MON.ITA link will be manufactured in our centre for technological and manufacturing excellence near Naples, developed at a cost, in 2012 “It’s a source of great satisfaction to be in a project of such strategic importance for Europe.” Valerio Battista, CEO of Prysmian Group
11 Prysmian Group Insight GETTING THINGS DONE Clean energy: Prysmian joins Norstec Prysmian Group is also: a founding member of Friends of the Super Grid, a reference entity aimed at promoting policies geared towards implementing a pan-European offshore electrical super-grid, and a member of the Medgrid project, The creation of Norstec , an association supported by British Prime Minister David Cameron, is bringing together more than 40 entities operating in the energy transmission infrastructure and technology industry, including world-class names such as Alstom, Areva, E.ON, National Grid, Siemens, Vattenfall and Vestas. The aim of Norstec is to promote policies geared towards the growth of the offshore wind power industry in the North Sea by exploiting the available resources and transforming them into economic and development opportunities. Members of Norstec will co-operate and share information to ensure that the benefits offered by the vast clean-energy potential in the North Sea are fully realised. Prysmian Group is joining the world’s leading energy transmission manufacturers, along with developers, researchers and industry bodies in a common effort aimed at fully exploiting the clean energy potential in the North Sea. By joining Norstec, Prysmian Group, already the global leader in power connections for offshore wind farms, has strengthened its commitment to supporting more efficient and environmentally sustainable grids throughout the world. aimed at bringing solar power from North Africa to Europe. The Prysmian Group portfolio boasts various projects in Denmark, the Netherlands and the UK both completed and in progress, involving the connection of offshore wind farms. The company has provided high-voltage direct current (HVDC) connections for the mega-wind farms BorWin2, HelWin1, HelWin2 and SylWin1 in Germany, which all form part of Europe’s most important renewable energy development programme. Prysmian Group’s package includes special cables for the functioning of wind turbines, cables for inter-array connections between farm turbines, and cable systems for connections with the main land-based grids. Finally, the Group recently signed an agreement for the acquisition of Global Marine Energy, an English company that installs submarine power cables and systems. The reason for this is to integrate production and installation solutions for submarine cable systems, particularly within offshore wind farms.
12 Prysmian Group Insight WORLDWIDE News from Prysmian Group Disclaimer The content of this publication is provided ‘as is’ without warranty of any kind, either expressed or implied, including, but not limited to, the implied warranties of mer- chantability, fitness for a particular purpose, or non-infringement of intellectual property rights. For further information please read the terms of use of this publication . MALTA - Prysmian will provide a new HV network with two new cable circuits and related accessories. Prysmian Group has been awarded a €7.7 million contract by utility company Enemalta to build two cable circuits on the island. These will connect the sub-stations in Mosta and Kappara to the Marsa power station in the capital Valletta. Prysmian will supply 150 kV 800 mm2 HV cables with aluminium-welded sheaths that will be manufactured at the Group’s plants in Pignataro (Italy) and Gron (France), along with HV accessories (joints and terminations) to be produced in Livorno (Italy). The particular material has been chosen because of its dual functions: firstly to protect the cables from moisture and secondly to serve as an external screen that carries short-circuit current. DARDANELLES STRAIT - Prysmian will build Turkey’s first high voltage submarine power cable link. The Group signed a €67 million contract with the Turkish electricity transmission utility TEIAS for the design, supply, installation and commissioning of a high voltage submarine power cable link connecting Europe and Asia across the Dardanelles strait. The cables will be produced in Prysmian’s European submarine facilities around the second half of 2014. This contract underlines Prysmian’s know-how and technology excellence in the development of state-of-the art cables for power transmission. SLATINA (Romania) - In October 2012 the new plant in Slatina started production of optical fibre cables. The initial target is to produce up to 1.5 million km of cables, with the ultimate goal of producing 3 million km. The target was originally set in December 2007 when the SLOPTCA project (SLatina OPTical CAbles) was approved. With the new plant complete, the Slatina site can expand production from the existing base of low/medium voltage cables and ADSL TLC cables and cordons to the new generation cables. BIELSKO-BIALA (Poland) - Prysmian presented Easy Glider, the new range of solid and flexible building wires at the ENERGETAB trade fair, held in Bielsko-Biala last September. Its smoother surface reduces friction making Easy Glider cable easier and faster to pull, and therefore considerably simpler to install than competing products. The project was presented in May 2012 by a multi-functional Prysmian team to a local special Innovation Committee. The Committee’s aim of finding new, innovative and actionable ideas became a reality in just five months. STOCKHOLM - Prysmian Group has supplied 500 km of cables that provide IT infrastructure and power to the floodlit Tele2 Arena, the Swedish capital’s new ultra-modern, multi-purpose stadium. With a retractable roof and glass facade, the Arena has an amazing view over Stockholm, 30,000 capacity for football matches and 40,000 for concerts. It will be opened in July 2013 after three years of intensive work. Prysmian Group has supplied halogen-free cables for the stadium’s power, telecommunications and lighting systems to guarantee safety and environmental standards. Tomas Hagwall, Business Development Manager for Prysmian Group Sweden, expressed his pride at supplying such a prestigious project. BERLIN - The ‘Industry Award 2012’ has been assigned to Prysmian Group for Protolon, the intelligent energy cable range for use in mining and crane reelingPrysmian new-generation cable will be installed by ABB in the port of Rotterdam. VDI, the Association of German Engineers, and Huber Verlag, one of the biggest providers of direct information and media services to technology leaders, selected Prysmian Group as the winner of the ‘Industry Award 2012’. The prize goes to companies that distinguish themselves by delivering strong economic, social, technological and environmental benefits. These were the very same characteristics required by ABB, who signed a contract with Prysmian Group for the manufacture and supply of 11,000 metres of cable system to be installed in 28 port cranes by Künz (ABB’s Austrian subcontractor) in Rotterdam. In fact, the Protolon 24/7 monitoring system meets the highest standards in safety, reliability and prevention. This is an important project for the port of Rotterdam, that will enhance the container-handling facilities of operating company APM Terminals. Prysmian Group latest news