Prysmian Launches New Latin America HQ in Brazil
- Business & Finance
Italian cabling and fiber-optics giant Prysmian has inaugurated its South America regional headquarters with the expansion of its Sorocaba factory in the region of Brazil’s São Paolo province.
Prysmian is thus leaving its Santo André facility and integrating the Prysmian and General Cable organisations into the new Sorocaba headquarters, built for an investment of approximately €35 million, which also permitted expansion of the Poços de Caldas production facility.
The new headquarters was inaugurated by CEO Valerio Battista and LATAM CEO, Juan Mogollon, to mark the 90th anniversary of the Group’s presence in Brazil during a ceremony attended by the Company’s top managers, approximately 400 employees and major local clients and institutions.
Valerio Battista, CEO of Prysmian Group, said: “South America and Brazil are strategic markets where the integration with General Cable has improved our competitiveness, as shown by our positive performance in early 2019. Our investments in the Poços de Caldas and Sorocaba facilities will allow us to serve our clients even more effectively and take advantage of the opportunities that we believe the demand for broadband networks and renewable energy will present.”
In particular, the investments in the Sorocaba facility were aimed at building a new headquarters, replacing the previous Santo André facility, and expanding production capacity.
According to Prysmian, efforts have been made in Sorocaba to upgrade and increase the production capacity of the power cables, optical and metal data transmission cables and special automotive industry cables lines. A new distribution centre has also been built in the new area, which extends over a total of approximately 23,000 square metres. The presence of a R&D centre will also help support Sorocaba in becoming one of the Group’s international centres of excellence.