JOINT PRESS RELEASE
Paris, France / Monterrey, Mexico
September 10th, 2021
Paris, France / Monterrey, Mexico, September 10, 2021 — Nexans SA (Euronext Paris: NEX) announced today it has entered into a Share Purchase Agreement with Xignux SA of Mexico to acquire Centelsa, a premium cable maker in Latin America active in the production of cables for Building and Utilities applications (the “Transaction”).
Centelsa, a Colombian based, iconic world class cable maker, has a total turnover of more than US$250 million and an Enterprise Value of US$225 million. Closing of the Transaction is subject to regulatory approvals and is expected to take place in the first half of 2022.
Christopher Guérin, Nexans CEO said: “Centelsa acquisition is fully aligned with the Group’s strategic ambition to become a Pure Electrification Player and it enhances Nexans commitment to electrify the world. This world class, iconic South American operation further contributes to Nexans ability to serve renewable projects in the Andean Region and enhances the group capacity in our Building and Energy Distribution activity. This combination will be the stepstone to grow our ‘best-in-class’ solutions and unique premium brand”.
Sergio Valdes, Viakable-Centelsa CEO, emphasized: “The Centelsa team has demonstrated, for more than six decades, professionalism in delivering high value to our customers. As a global player in energy transmission, Nexans is a great fit to lead the next phase of growth for Centelsa´s customers and employees. Jointly, there is a promising future ahead”.
Nexans expects to fund the acquisition with a mix of available cash and debt, and expects the proposed transaction to be accretive to earnings in the immediate aftermath of the acquisition.
CENTELSA is a manufacturing company of cables for energy and communications, which has been part of the industry since 1955, during which time it has retained its position as a recognized cable manufacturer in Colombia. It has a network of strategically located offices to cover the national and international markets, thus offering outstanding service levels.
Xignux is a Mexico-based company dedicated to the energy and food industries with sales in more than 40 countries. Xignux was founded 65 years ago and employs more than 28,000 people in five countries. Xignux manages companies that energize life and society to contribute to a better world. www.xignux.com
For over a century, Nexans has played a crucial role in the electrification of the planet and is committed to electrify the future. With around 25,000 people in 38 countries, the Group is leading the charge to the new world of electrification: safe, sustainable, renewable, decarbonized, and accessible to everyone. In 2020, Nexans generated 5.7 billion euros in standard sales.
The Group is a leader in the design and manufacturing of cable systems and services across four main business areas: Building & Territories, High Voltage & Projects, Industry & Solutions and Telecom & Data.
Nexans is the first company of its industry to create a Foundation supporting sustainable initiatives bringing access to energy to disadvantaged communities worldwide. The Group pledged to contribute to carbon neutrality by 2030.
Nexans. Electrify the future.
Nexans is listed on Euronext Paris, compartment A.
For more information, please visit: www.nexans.com
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