Nexans has signed the Joint Venture agreement with Superior Essex concerning its winding wires business in Europe
Paris, July 28, 2005 - Nexans announces today the signature of the Joint Venture agreement with Superior Essex concerning Nexans winding wires business in Europe (40% Nexans and 60% Superior Essex).
The transaction is in conformity with the financial conditions previously indicated and notably in the presentation of consolidated financial statements for the half year 2005.
Nexans is the worldwide leader in the cable industry. The Group brings an extensive range of advanced copper and optical fiber cable solutions to the infrastructure, industry and building markets. Nexans cables and cabling systems can be found in every area of people's lives, from telecommunications and energy networks, to aeronautics, aerospace, automobile, railways, building, petrochemical, medical applications, etc. With an industrial presence in 29 countries and commercial activities throughout the world, Nexans employs 20,000 people and had sales in 2004 of 4.8 billion euros. Nexans is listed on the Paris stock exchange. More information available on www.nexans.com