The British government names Prysmian "Investor of the Year" in the UK


Among the reasons for the award, the Western Link Project, a submarine power connection between Scotland and England, and the acquisition of Global Marine Energy

Milan, Italy   -   08 Dec 2012

The British government names Prysmian "Investor of the Year" in the UK

Present in the UK for some 100 years, Prysmian has a turnover of around €700 M, 9 manufacturing units and about 1400 employees. In the energy cables industry, the group is involved in connections for the largest offshore wind farms and in 2012 it cabled the Shard, a record-breaking skyscraper. In the tlc industry, it supports British Telecom in developing broadband networks.

Milan, 24 January 2013. Prysmian Group, world leader in the energy and telecom cables and systems industry, has been conferred the prestigious Investor of the Year award, made every year by the British Government and UK Trade & Investment to prominent companies for investment and strategic projects in Great Britain.

The awards ceremony will be held this evening in Milan at the Italian Stock Exchange in the presence of Michael Fallon, Minister of State for Business and Enterprise, Christopher Prentice CMG, HM British Ambassador to Italy, Vic Annells, Consul General and Director General of UKTI Italy, Massimo Tononi, Chairman of the Italian Stock Exchange, and Raffaele Jerusalmi, CEO of the Italian Stock Exchange. 

The decision to bestow Prysmian this prestigious award is attributable to the major projects and investments that the Group has undertaken and is currently undertaking in the UK.

In particular, in 2012 Prysmian Group won the contract for the Western Link submarine connection between Scotland and England, a strategically important project for the country which will provide extra capacity in the entire UK electricity transmission system. This contract also recognises the Group's undisputed know-how and capability for innovation, as well as representing a milestone not only in terms of economic value, but also for its technological characteristics (with a record voltage of 600 kV and power rating of 2200 MW).

Also last year, the Group acquired Global Marine Energy (GME), a British company active in the installation of submarine energy cables and systems, with a cable ship amongst its strategic assets. GME offers high value-added services, presenting itself increasingly as a partner capable of offering integrated solutions for the production and installation of cable systems with particular expertise in offshore wind farm connections.

Prysmian is also heavily involved in renewable energy development programmes in Great Britain, where it has developed power connections for major offshore wind farms, including Walney, Ormonde, Gunfleet Sands, Thanet and Greater Gabbard. In addition, the Group is one of the founding members of Norstec, an association supported by David Cameron, the British Prime Minister, bringing together key players in the energy sector with the goal of maximising the benefits of the huge potential of clean energy resources in Europe's northern seas.

Major infrastructure cabling projects undertaken by the Group in Great Britain include the installation of special fire-resistant cables in the Shard, the record-breaking skyscraper opened in London in 2012, in the new Wimbledon tennis stadium and in the London Underground network.

Present in the country for about a century, the Group is the major supplier to the Utilities, T&I and Telecom industry with cable, installation, connectivity and accessories capability making up to 132kv HV. The Group’s turnover in Great Britain is around €700 M, with 9 manufacturing units and about 1400 employees.

Related Info

Uk-Italy Business Awards website