$8.2 million investment expected to create 20 jobs
Columbia, SC -- Prysmian Group, a gloabal cable producer serving the energy and telecom industires, is expanding its manufacturing facility in Abbeville County. The company's $8.2 million investment is expected to create approximately 20 new jobs once in full operation.
Prysmian, whose Abbeville facility is celebrating its 50th year of operation, is investing in a new, state-of-the-art compounding facility for medium voltage cable insulation and is adding a second vertical continuous vulcanization (VCV) line. Company officals plan to start construction this year, with production expected to begin in the second half of 2015. Prysmian's first VCV process, housed in a 373-foot tower and constructed in 2009, was the first one of its kind to produce extra-high voltage power cables in North America.
This latest investment comes as medium and high voltage cable projects across North America - including major utility company clients - continue to increase, and Prysmian will be better equipped to serve these growing markets. Prysmian Group, which is based in Milan, Italy, is active in North America with expertise in low, medium and high voltage cable design and manufacturing. Its continued investments on this continent reinforce the group's commitment to high-tech, high-value added sectors.
Prysmian Group has a presence in more than 50 countries around the world and employs 19,000 people and 91 plants. Those interested in careers with the company may search for available positions online.
"Prysmian is a great South Carolina company that has been part of our business community for 50 years - and we couldn't be more excited to see them continue to expand here. Their commitment to bringing value and innovation to their clients matches South Carolina's commitment to great service and support for our businesses. Congratulations to Prysmian Group for investing $8.2 million and creating 20 jobs in Abbeville." - Gov. Nikki Haley
"Helping our existing industry continue to grow- especially a company with such a rich history in our state - is a key part of our economic strategy. This inveestment announcement is an excellent way to start Prysmian's next 50 years in Abbeville County." - Secretary of Commerce Bobby Hitt
"Prysmian is, and has been, a cornerstone of our industrial community. Creating a positive growth environment for Prysmian and our other industries is a community-wide effort, and Abbeville County is proud to continue to provide the support necessary for announcements like this. Our heartiest thanks and congratulations go to the entire Prysmian organization." -Bruce Cooley, Abbeville County director
FIVE FAST FACTS
- Prysmian Group is expanding its manufacturing facility in Abbeville County that produces cable serving the energy and telecom industries.
- $8.2 million investment creating 20 jobs.
- Prysmian Group has operated in Abbeville County for 50 years.
- Company officials plan to start construction this year, with production expected to begin in the second half of 2015.
- Those interested in careers with the company may search for available position online.
About Prysmian Group
Prysmian Group is world leader in the energy and telecom cables and systems industry. With more than 130 years of experience, sales of €7 billion in 2013, about 19,000 employees across 50 countries and 91 plants, the Group is strongly positioned in high-tech markets and offers the widest range of products, services, technologies and know-how. In the Energy sector, Prysmian Group operates in the business of underground and submarine power tranmission cables and systems, special cables for applications in many different industrial sectors and medium and low voltage cables for the construction and infrastructure industry. In the Telecom sector, the Group manufactures cables and accessories for the voice, video and data transmission industry, offering a complete range of optical fibres, optical and copper cables and connectivity systems. Prysmian is a public company, listed on the Milan Stock Exchange in the FTSE MIB index.
About S.C. Department of Commerce
As South Carolina's leading economic development agency, the Department of Commerce works to recruit new businesses and help existing business grow. Commerce has recruited world-class companies to South Carolina such as Boeing, Bridgeston, Continental, Monster.com, ZF Group, BMW and Google Inc. and also supports small and existing business, rural development initiatives and community development. Commerce partners with the S.C Technical College System via readySC to support workforce training and recruiting, and with the S.C. Department of Employment and Workforce, which provides worker training and employment opportunities within the state. South Carolina ranked first in the nation for attracting jobs through foreign investment, according to IBM-Plant Locatioin International reports in both 2012 and 2013. The state won the Gold Shovel Award and the Project of Year Award from Area Development magazine in 2012. For more information, visit www.SCcommerce.com.
Visit the Commerce Newsroom for more project announcements and South Carolina business news.
Allison Skipper, APR
Director of Marketing and Communications
South Carolina Department of Commerce