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History
From Pirelli Cavi to Prysmian
Prysmian's history has it roots in the history of the Pirelli group.
Technological know-how, the capacity for research and innovation, managerial skills and
attention to human resources have always been the most significant elements in the competitiveness
of the Pirelli group, together with its rigorous Ethical Code and an internationally renowned
system of Corporate Governance. This prestigious DNA is now maintained throughout Prysmian.
1879 to 1998: geographical expansion and growth
1879 - A few years after the foundation of the Pirelli group, the activities of
Pirelli Cavi e Sistemi commenced.
1886 - A manufacturing facility for the production of submarine telegraph cables is
opened in La Spezia. A telegraph line is installed on the bed of the Red Sea.
1902 - The company's territorial expansion begins with the construction of its first
overseas plant, in Spain. This is followed by the opening of new production plants in Great Britain
(1914), Argentina (1917) and Brazil (1929).
1925 - Pirelli Cavi e Sistemi makes its first foray into America, with the laying of
5,150 km of trans-Atlantic submarine telegraph cable to connect Italy with the Americas. This is
followed in the ensuing years by the installation of power cables in New York city and Chicago, the
expansion into Brazil, the trans-oceanic link between northern Africa and Brazil and the start of
cable production in Canada.
1950 - The Italian Ministry of Postal Services commissions to Pirelli Cavi e Sistemi
the supply of cables for the interurban telephone network and for televisual communication. The
Group is also awarded the contract for the reinstatement of the submarine telephone line between
Italy and Brazil.
1982 - The Pirelli group becomes the first company in Italy to produce optical
fibres for telecommunications and data transmission, setting up a joint venture with the STET
group.
1998 to 2001: growth through acquisitions
In order to expand its commercial and industrial operation internationally,
acquire specific know-how, strengthen its global presence and achieve economies of scale, the
company launches a targeted "campaign of acquisitions". Pirelli Cavi e Sistemi acquires the power
cable businesses of Siemens AG, BICC and Metal Manufacturers Ltd, and two NKF factories.
2001 to 2004: restructuring
A radical restructuring process is launched, giving the company a leaner,
more efficient and more flexible organization.
2005: the founding of Prysmian Cables & Systems
Prysmian, indirectly controlled by The Goldman Sachs Group Inc., signed an
agreement to purchase the Energy Cables and Systems and Telecom Cables and Systems activities of
Pirelli & C. S.p.A. Formation of Prysmian Cables & Systems: a name that alludes to the
concepts of light, analysis, brilliance and perfection associated with the geometric figure, and
hence synonymous with excellence, research and reliability.
2007: Prysmian becomes a listed company
Prysmian becomes a listed company. The negotiations began on May the 3rd for
Prysmian stock on the Milan Stock Exchange, in the Blue Chip segment. |
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