Prysmian Group accelerates expansion into offshore Oil

NEW FLEXIBLE PIPES PLANT IN BRAZIL NOW OPERATIONAL ($150M INVESTED)
NEW PETROBRAS CONTRACTS OF SOME $50M FOR FLEXIBLES AND SPECIAL DHT CABLES
OBJECTIVE: EXPANSION IN NORTHERN EUROPE, USA, WEST AFRICA AND ASEAN
MORE THAN $150M SALES FORECAST ALREADY IN 2011

Milan, 09 November 2011. Prysmian Group, world leader in the energy and telecom cables and systems industry, is stepping up its expansion into the business of products and services for the offshore oil industry. The new flexible pipes plant in Brazil is now fully operational and the integration with Draka has broadened the product range to special DHT (Downhole Technology) cables, opening up new opportunities in the North American market. The Group also announces the acquisition of important orders from Petrobras worth a total of some $50M, for the supply of flexible pipes to connect platforms to wellheads thousands of metres below sea level, and special DHT cables, including fibre optics to control downhole instrumentation, power and hydraulic fluid cables. It is worth highlighting the significant Brazilian content of these projects, both in terms of local workforce and know-how development and with regard to the use of domestic raw materials.

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