The Italian Prysmian Group will acquire the entire capital of Global English Marine Systems Energy



The Italian Prysmian Group, world leader in the cables and arrange for the energy and the telecommunications, have signed an agreement in order to acquire 100% of the capital of Global Marine Systems Energy Ltd (GME) from the British group Global Marine Systems Ltd (GMSL), for a value of about 53 million euros. The closing of the operation it is subject to some suspensory conditions, between which the obtaining of the authorization by the competent authority antitrust.

English GME, that she will close 2012 with a turnover previewed of about 75 million euros, is active in the installation of cables and systems energy submarines and numbers between own strategic assets a ship posacavi and offers services to elevated added value for the realization of connections energy submarines, that they go from project management to the installation, splice and protection of the cables. GME has a detail expertise in the connections of wind parks offshore and currently is involved in various great projects in realization in the Sea of the North.

"This acquisition - the managing director of Prysmian Group has explained, Valerio Battista - is online with our strategy of focalization of the investments for the increase in the businesses more elevated added value. The widening of the ability to installation of cables submarines allows us to ulteriorly extend the garrison of the supply chain, internalizzando an activity part that until now we did not carry out directly as the installation of Inter-Array cables between the turbines that compose the wind parks offshore. Our objective is more and more to characterize us as partner in a position to offering produced and services keys in hand that include planning, production and installation, anticipating an increasing necessity of utilities and contractor/developer our outsourcers, in particular in the wind parks offshore".

In the field of the cables and it arranges submarines Prysmian Group it boasts a pocketbook orders of about 1,7 billion euros and is involved in various of the main projects in realization in the world, is interconnections between nets is connections of offshore windfarm that they represent a part consisting of the market with a trend of constant increase. In this within the Italian group is able to offer packages that they include special cables for the operation of the wind turbines, digs out for the Inter-Array connections between the turbines that compose the park and systems in cable for the connections with the main nets of mainland. The expansion of the installation ability follows the widening of the productive ability to cables submarines by the group, than now it can count on three dedicated productive systems in Italy, Finland and Norway. Recently Prysmian has realized a new investment of about 40 million euros for the start of the production of cables submarines to Pikkala in Finland, has developed the productive ability to the system of Drammen in Norway specialized in Inter-Array cables and has continued to invest in the plant of tip of Happy Arc in Italy (about 30 million euros in 2012).

"The acquisition of GME by Prysmian Group - the managing director of Global Marine Systems Ltd has declared. , Ian Douglas - he testifies the developed only abilities and the expertise from GME and represents a great opportunity for the ulterior development of GME in the increasing market of the installations of cables energy".