Over the past years Prysmian has been investing in the construction of the Vila
Velha plants for umbilicals and flexible pipes with the aim of diversifying
and further expanding its activities in the market of technology and products
for the OG&P industry. The flexible pipes plant has complemented the
umbilical plant, opened in 2007, and the addition of flexible pipes to its
product range has enabled Prysmian to offer the OG&P industry a
comprehensive range of SURF products (Subsea Umbilicals, Risers and Flowlines).
Now thanks to the merger between Prysmian and Draka, the Group can rely also on
two plants in North America, thus broadening the available range of products
technology to special Down Hole Technology (DHT) systems (manufactured
in Massachusetts and New Jersey) and creating interesting cross-selling
opportunities to accelerate the business’s expansion also in new strategic areas
such as ASEAN, Northern Europe and Western Africa.
Panos Kotseras on 23 Aug 10Draka published its H1 2010 sales figures and commented that the company saw signs of cautious recovery in several cable market segments. Revenues amounted to 1.1 billion euro in H1 2010, a 12% y-o-y increase from the same period in the previous year. Draka attributed the rise in revenues mainly to higher copper prices. It was reported that volumes fell by 0.6% y-o-y in H1 2010 whilst they rose by 0.9% y-o-y in Q2 2010. The company posted EBITDA, excluding non-recurring items, of 34 million euro in H1 2010, down by 17% from H1 2009. Demand was stabilised in most of end-use markets, however, there was no relief from highly competitive pressures.
