Prysmian Group is the Italian-based global leader in manufacturing and laying cables for the energy and telecommunications industries. The company was originally founded in 1879, as Pirelli Cavi e Sistemi. In 2005 the Pirelli group sold it to Goldman Sachs which re-branded the company as Prysmian Cables & Systems. Four years later Goldman Sachs listed Prysmian on the stock market and sold most of its stake in the company by means of the IPO, making it one of the largest public companies in Italy.
After the acquisition of Dutch group Draka Holding in 2011 it strengthened its leadership position and was given a new corporate identity as Prysmian Group, while retaining the Prysmian and Draka commercial brands. Nowadays the Group employs some 12,000 people and boasts subsidiaries in 50 countries, 98 plants in 24 countries and 22 Research & Development Centres worldwide.
The operations of Prysmian Group are structured along the two main business lines of Energy Cables and Systems, which includes high voltage power transmission submarine and underground connection from large offshore production plants to mainland networks, and Telecom Cables and Systems, with its optical and fibre cables and applications for the telecommunication services.
According to experts and market watchers, Prysmian, under a 8 years tenure of current CEO Valerio Battista, became a case history of how a low-profitable division of a large multinational could manage to become in less than a decade the first global manufacturer of power and telecom cables worldwide – from the sidelines of the Italian tire-maker Pirelli to the high-tech frontier of the new power and telecoms era. The Prysmian story also shows how investment banks can manage to make very profitable deals even when they invest capital and help companies in the real economy to grow by turning them into true public companies.