CORPORATE NEWS:
Nexans goes local in Shanghai
Nexans has responded to a fast-growing local market and its Chinese customers’ increasing pressure to provide local products and services by opening a special cables plant in Shanghai. The Euros 22 million (US$28.5m) plant covers 50,000m2 in Waigaoqiao Free Trade Zone Shanghai and employs about 80 people.
With the aim of increasing its competitive-ness against both local and international players, Nexans has established the new plant – named Nexans (Shanghai) Wires & Cables Co Ltd – in two phases.
The first phase sees it producing shipboard cables, rolling stock cables, cables for nuclear power plants and security building cables and the company is expecting annual turnover of about Euros 15 million (US$19m) by 2009.
In the second phase, the capability to manufacture rubber-insulated cable will
be added.
Nexans says this is to address future possible ‘Transrapid’ projects in China as well as mining and other local industrial applications.
Nexans first entered the Chinese market during the 1980s and has continuously strengthened and developed its presence ever since – including the setting up of three industrial ventures since 1994, as well as a logistics centre to support its sales efforts in the region. However the new plant represents the largest wholly-owned Nexans subsidiary in China to date.
At the opening ceremony, Michel Lemaire, Nexans’ Executive Vice President North America and Asia Area commented: “We are confident that we have made the right choice in establishing this new plant in Shanghai, as it enables us to supply our customers with high quality products in a short delivery period as well as providing them with after-sales services.”
Company: |
Nexans |
Country: |
France |
Fax: |
+33 1 56 69 84 84 |
Email: |
|
Website: |
www.nexans.com |