Prysmian Group & General Cable Join Forces
New Organization to be Implemented for Integration with General Cable 450 Managers Appointed at the Global Level
With Sales of Over $11 Billion, The New Group Will Employ Approximately 30,000 People at 112 Plants and 25 R&D Centers in Over 50 Countries
"Today, We Begin to Operate as a Single Team with Shared Objectives, Combinging the Best of Both Companies," Commented CEO Valerio Battista
Prysmian Group announces the launch of its new organization and begins its integration with General Cable. The newly created Group is a world leader in the energy and telecom cable systems industry with sales of over $11 billion (pro-forma as of 31.12.2017) and approximately 30,000 employees at 112 plants and 25 R&D centers in over 50 countries. The integration with General Cable enables further expansion of the range of technologies and products offered by Prysmian Group.
The shift in the balance of the weights of the various geographical areas is significant: North America will account for approximately 28% of the Group’s sales, with headquarters located in Highland Heights, Kentucky, and 23 plants with a headcount of about 5,800.
The new organization combines the strengths of both Prysmian and General Cable and is based on centralized governance and integrated management of global businesses, clear responsibilities for results, a focus on efficiency and technological innovation and a customer-centric approach enabled by teams dedicated to key customer accounts.
“Today, we begin to operate as a single team with shared objectives,” stated Valerio Battista, Chief Executive Officer of Prysmian Group, “integrating business segments, geographical markets, production facilities and staff functions. Protecting our business and creating value: these are our priorities.”
The new organization has a matrix structure which develops along 3 lines: the Group centralized functions, which aim at fostering the creation of a highly integrated "One Company”; the Regions, which must ensure closeness to the market; and the Business areas (Energy, Telecom and Projects), which are responsible for product and cross-selling strategies.
“With the aim of identifying and retaining top talent, we conducted a thorough selection process based on the ‘best people for the job’ principle, ensuring equal opportunities to people from Prysmian and General Cable. The result is an international management team composed of 450 people who from the outset have been given clear responsibilities and precise objectives,” explained Fabrizio Rutschmann, Chief Human Resources Officer.