Nexans in sell-off to focus on electrification : Page 2 of 2

February 18, 2021 //By Nick Flaherty
Nexans in sell-off to focus on electrification
French cable giant Nexans is restructuring to focus entirely on power, from generation through distribution to smart systems.
focus on end-user electrical safety with a seamless supply chain for easy to handle and install products, and smart products integrated in a digital ecosystem, particularly for the increased power demands of Industry4.0 and industrial automation.

The company aims to have sales of €6bn to €7bn by 2024, with over half from the existing Electrification portfolio. This will include a ramp-up of its investments in the state-of-the-art Aurora cable-laying vessel and the expansion of its Charleston high-voltage subsea plant in the USA, as well as the additional capacity investments in High-Voltage & Projects business.

It will sell off various parts of the portfolio while also targetting transformative deals and bolt-on acquisitions to complete its electrification offer. This will come from the various sector such as railway and datacoms and telecoms.  However the aquisitios will come from free cashflow, as the company currently expects to be debt free by that 2024 target.

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