Prysmian completed the acquisition of Encore Wire for €3.9bn.

Prysmian, a global cabling solutions provider, completed the acquisition of Encore Wire, a manufacturer of a broad range of copper and aluminium electrical wire and cables, for €3.9bn. “This acquisition will significantly strengthen Prysmian’s leadership position in North America while creating value for all stakeholders. Thanks to the complementary fit of Encore Wire with Prysmian’s existing North American business, we will be bette placed than ever to address customers’ needs across the dynamic, highly efficient and growing North American market, while ensuring we are best placed to capture the structural growth opportunities which are being driven by digitalisation and energy infrastructure. There is also a strong cultural fit between Encore Wire and Prysmian because of our shared spirit of innovation and commitment to accelerate the transition towards a low carbon economy. We warmly welcome Encore Wire employees into our team and together, as a result of our team spirit, passion and innovative approach, we will become an even stronger leader," Massimo Battaini, Prysmian CEO.