on NEXANS (EPA:NEX)
Nexans sells its subsidiary AmerCable to Mattr for 280 million dollars
Nexans, a key player in the energy transition, has reached an agreement to sell its subsidiary Américable to Mattr for US$280 million. This transaction is pending the customary regulatory conditions precedent.
This divestment is part of Nexans' strategy to focus on electrification. AmerCable, based in Arkansas with 300 employees, is a recognized manufacturer of cables for harsh environments. In 2023, the company generated sales of €234 million.
Christopher Guérin, CEO of Nexans, stressed that this transfer allows AmerCable to benefit from new opportunities with Mattr, which wishes to strengthen the growth of this renowned manufacturer.
The completion of this transaction is expected by the end of 2024.
R. E.
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