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Wieland-Werke AG and KME Group S.p.A., which are both leading European copper product fabricators, separately announced fabrication price increases. Wieland will introduce an increase of 5-7% by 1st January 2012 while KME increased its fabrication prices by 7% starting from 7th November 2011. Both companies have attributed the change to the rising costs of energy and the risk management costs associated with high and volatile metal prices, which could no longer be offset by productivity improvements.

Assomet, Italy's non-ferrous metals association, reported that the nation's output of copper and copper alloy semis declined by 2.4% y-o-y to 814,000t in the first three quarters of 2011. According to data obtained by Reuters, Q3 output alone fell by 5.8% y-o-y to 229,900t.

The second phase of Prysmian S.p.a.'s development strategy, which involves the expansion of its Rybinsk facility in Russia, is nearing completion and is expected to begin supplying customers in Q1 2012. After the expansion, the facility will be capable of producing cables for use in the automotive and oil and gas sectors. The initial phase of the plan involved the installation of equipment for the manufacture of cables and systems related to the construction business. A third phase involving high voltage and medium voltage cable manufacturing is also underway and the building to house the new lines is nearly ready. The third phase is expected to be completed at the beginning of 2013.

Nexans said it has been awarded contracts worth around €110 million ($113.2 million) by Libya's PEWCO (Public Electrical Works Company), to supply cables for projects to upgrade the country's power transmission and distribution infrastructure. The contracts involve the supply of over 1,000 km of high-voltage (HV) and low and medium-voltage (MV) cables. The transmission contract comprises 245 kV underground cables to be manufactured and supplied by Nexans, France and the 33 kV and 15 kV distribution cables and the optical fibre cables being supplied by Nexans Greece, with additional accessories being supplied by Nexans, Italy. Delivery and installation of the cable is expected to be complete by the end of 2013.

The European Commission has invited interested third parties to send comments on Glencore's proposed acquisition of an Italian copper rod and semis producer. Earlier in November, Glencore submitted a prior notification of its intention to assume sole control of Carlo Colombo via share purchase.

It was reported that Eredi Gnutti Metalli (EGM), Italy's leading copper alloy semis fabricator, holds a positive outlook on production in the coming months in spite of economic turbulence in the eurozone. The company is hoping to increase its production to between 120,000t and 130,000t in the 2012 fiscal year. EGM has been undergoing a process of consolidation in recent months and has recently procured copper and copper alloy semis fabricator Ilnor.

The Florence, Italy, based KME Group S.p.A. announced revenues of €1,623 million for the first six months of 2008, down 12.2% on the same period in 2007. EBITDA was €64.4 million in the same period, down 15.8%. "The Group's profitability is lower than in the first six months of 2007, when market conditions were more favourable, but in line with the level achieved in the second half of 2007," said the company. Going forward, KME, a global leader in the production of semi-finished copper products, remains bearish about the demand outlook in Europe. The company also identified raw material prices, "which remain high and are characterised by high volatility," as a potential source of risk.

As a result of weak customer demand in the aerospace and electronics/data communications markets in Q1 2009 caused by the global economic downturn, International Wire Group, Inc., a US manufacturer and marketer of wire products, announced that it is idling production at two plants in Jewett City, Connecticut and Littleton, New Hampshire. International Wire Group, Inc. manufactures wire products for other wire suppliers, distributors and OEMs manufacturers. It has 19 facilities across the US, Belgium, France and Italy.

Prysmian said that if it proceeds with the takeover of Draka, it has no plan to dual-list its shares in Amsterdam. The Italian cable maker aims to take full control of Draka and de-list the Dutch company. Prysmian also commented that a return of Chinese Xinmao is highly improbable and expects that no other cable maker will make a bid as it is very late in the process.

Prysmian declared the offer it advanced for Draka Holding on January 5, 2011 unconditional. The offer concerns all Draka shares in circulation, valuing them at EUR 8.60 apiece in cash plus 0.6595 ordinary Prysmian share. All offer conditions, except for the condition for granting all necessary authorisations, have been fulfilled, Prysmian said, adding it was waiving the regulatory condition. Prysmian will start a post-tender offer, which will run until 22 February, for the remaining minority shares in the Dutch company, at a price of EUR17.20 (USD23.43) per share in cash and stock. Including the preference shares to be acquired from Draka's minority shareholders ASR Levensverzekering and Kempen, Prysmian's holding will reach 91.4% in total, the buyer added. Upon a successful acquisition, Draka shares will cease trading on the Amsterdam stock market.

Prysmian said that it has agreed to buy all the preferred shares of Draka, which are not subject to the takeover deal. It was reported that the preferred shares are held by ASR Levensverzekering and Kempen Bewaarder Beleggingsfonds 'Ducatus'. One of the conditions of the agreement is that the share transfer should take place before 1st March 2011.

Prysmian announced that it has been awarded a project worth more than €250ml by the Dutch-German grid operator TenneT in order to link the offshore wind park DanTysk in the North Sea to the German Grid. Prysmian said that the interconnection comprises of HVDC subsea and land cable types at a voltage of 320 kV DC along a 159 km sea route and then a 45 km land route. The cables and accessories will be manufactured from 2012 onwards at Prysmian's HV factories in Europe.

Prysmian secured EU regulatory approval for the proposed acquisition of Draka. According to the statement released by the EU antitrust regulator, "The Commission's investigation has shown that the merged entity will continue to face effective competition in the production of optical fibre cables and general wiring despite becoming the European leader in the markets concerned." It was reported that the European Economic Area consists of a number of smaller suppliers, and therefore Prysmian will continue to have a sufficient number of competitors in its markets.

Italian cable maker Prysmian announced financial results for FY2010. The company said that sales revenues amounted to €4.6B, an organic increase of 3.2% from the previous year. The second half of the year saw an upturn, exhibiting organic growth of 9.7% y-o-y. However, adjusted net profit fell to €173M in FY2010 from €206M a year ago. It was commented that 2010 was characterised by first signs of recovery, with the upturn having started in Q2 and then being confirmed during the year. Prysmian stressed that their strong balance sheet allows them to proceed with the Draka integration.