Phase One of Prysmian/Draka Integration Successfully Co.

Phase One of Prysmian/Draka Integration Successfully Completed

Milan (ots/PRNewswire) -

- New Organisational Structure Rolled out

- Birth of Prysmian Group, EUR7 Billion Turnover, 98 Plants in 50
Countries, 22,000 Employees

Prysmian, worldwide leader in the energy and telecom cables
industry, unveils its new organisational structure, marking an
important step forward in the integration with Draka, following the
closing of the acquisition in March and the delisting from the
Amsterdam Stock Exchange in April.
Along with the new organisational
structure, which comes into effect from July, the Group has set
itself a new Mission and a new strategy that aims at promoting both
the Prysmian and the Draka commercial brands under the new Prysmian
Group corporate umbrella.

"The launch of the new organisational structure - explains CEO
Valerio Battista - marks a fundamentally important step in the
integration process between Prysmian and Draka. We have put together
the best of the two companies, with the goal of designing an
organisation that is lean, efficient and fast in managing change and
promoting innovation while being able to stay close to customers and
markets. Now we have the right people in place and the ideal
conditions for achieving the annual earnings target of between EUR530
and EUR580 million in ADJ Ebitda. This will also allow us to start
reducing the level of debt, which has risen due to the acquisition".

The new Group's matrix structure organisation revolves around two
business units: energy cables and systems and telecom cables and
systems. Most of the product lines will be managed by both geography
and business, from building wires and underground power transmission
and distribution, to fibre optic and copper telecom cables and
special cables for industrial applications for renewable energy and
the oil & gas industry. The more globalised product lines (submarine
cables, optical fibre and telecom components, cables for the
automotive, transport and aerospace industries, flexible pipes and
umbilicals for the oil & gas industry, special cables for elevators)
will be managed cross-nationally by business.

The new Group's key people have also been appointed following an
assessment of Prysmian and Draka's best resources. This new
management structure includes 300 top positions, from the Group Chief
Executive Officer's staff functions, to the individual country CEOs
and headquarters directors of the various business segments. The
launch of the new organisational structure effectively ratifies the
birth of the new Prysmian Group, with EUR7 billion in turnover
(pro-forma 2010), a presence in 50 countries with 98 plants and
22,000 employees. At the same time as devising the new organisation,
the integration team has developed a new Mission and the branding
strategy that will accompany the Group to market.

To support the sustainable supply of Energy and Information as
primary drivers in the development of communities, providing our
customers with superior cable solutions based on state-of-the-art
technology: these are the core elements of the new Vision and
Mission. The Group has also decided to retain and promote both the
Prysmian and Draka commercial brands, both of which have strong
recognition on their respective markets, at the same time as creating
the new Prysmian Group corporate brand.

Prysmian Group

Prysmian Group is world leader in the energy and telecom cables
and systems industry. With sales of some EUR7 billion (pro-forma 2010
Prysmian/Draka) and 22,000 employees across 50 countries and 98
plants, the Group is strongly positioned in high-tech markets and
provides the widest range of products, services, technologies and
know-how. In the Energy sector, Prysmian Group operates in the
business of underground and submarine power transmission cables and
systems, special cables for applications in many different industrial
sectors and medium and low voltage cables for the construction and
infrastructure industry. In the Telecom sector, the Group
manufactures cables and accessories for the voice, video and data
transmission industry, producing optical fibres, optical cables and
connectivity. Prysmian is listed on the Milan Stock Exchange in the
Blue Chip index.

Media Relations Investor Relations
Lorenzo Caruso Luca Caserta
Ph. +39-02-6449-1 Ph. +39-02-6449-1
lorenzo.caruso@prysmian.com luca.caserta@prysmian.com

ots Originaltext: Prysmian
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