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"Proceedings have been filed against: * Australia's two largest manufacturers of electrical cable, Olex Australia Pty Ltd (Olex) and Prysmian Power Cables & Systems Australia Pty Ltd (Prysmian), * the electrical wholesaling businesses L&H (which is operated by Lawrence & Hanson Group Pty Ltd) and Rexel (which is operated by Rexel Electrical Supplies Pty Ltd and Australian Regional Wholesalers Pty Ltd), * six senior executives from these manufacturing and wholesaling companies, and * an industry association, Electrical Wholesalers Association of Australia Limited (EWAA)."

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.

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.

"Developed by Prysmian's R&D Headquarters in Italy, P-Laser technology is eco-sustainable. The HPTE insulating system of P-Laser cables uses thermoplastic materials unlike traditional XLPE cables with cross-linked polyethylene insulation. The metal used for the conductor and the outer cable screens under the protective sheath is also recyclable, making the cable 100% eco-friendly. From the efficiency point of view, P-Laser technology allows grid operators to work at temperatures above the typical 90°C as usual with XLPE traditional technology. This higher thermal performance allows them to increase the power transmission for the same conductor section, or a longer cable life at the same temperature, but above all it allows higher capability. This is particularly important in the event of emergencies, grid congestion and "N-1" conditions (disconnection because of malfunction or maintenance of an adjacent line)."

"The new facility will serve both the internal market sustaining the infrastructural energy development project in Romania, and the export market further qualifying Romania as an excellence hub to serve the most advanced international markets. Completion of the project and beginning of production is scheduled for July 2015."

"The new Hainan interconnection comprises four HVAC (High Voltage Alternating Current) 500 kV single core SCFF (self-contained fluid filled) cables to be laid under the Qiongzhou Strait in southern China, along a 32-kilometer route."

Prysmian, the Italy-based manufacturer of wire and cable announce on 26th February that it has secured a €350M (US$462M) contract from Alstom Grid to supply the DolWin3 project with power cables. The contract, which will involve supplying and installing 900MW submarine and land cables along a 78km sea route and an 83km land route, will connect off-shore wind farms in the North Sea to the German power grid. The work is scheduled to be completed by December 2016.

Xinmao announced that it decided to call off its offer for Dutch cable maker Draka, which valued the company at €1 billion in total. The Chinese firm cited the time pressure which occurred after the placement of Italian cable maker Prysmian's official offer as the most important reason for the withdrawal. The European Commission will review the proposed acquisition by Prysmian in early February.