This story was originally published on Manufacturing Dive. To receive daily news and insights, subscribe to our free daily Manufacturing Dive newsletter. Dive Brief: South Korea-based LS Cable & System is planning to spend an additional $689 million for a manufacturing campus in Chesapeake, Virginia, Gov. Glenn Youngkin announced Friday. The company expects to break ground on the project in 2026. The project will be initiated through three of the communication cable and system company’s subsidiaries, in ...

Nexans – Recent Rumors regarding Great Sea Interconnector project Paris, December 9th , 2025 Today’s Rumors Regarding Great Sea Interconnector Project In response to recent Cypriot local media reporting regarding the Great Sea Interconnector project, Nexans reiterates that it continues to execute the project in accordance with its contractual obligations, and in line with the milestones defined with the customer. Such milestones, in projects of similar nature and magnitude, may be adjusted from time to tim ...

Nexans appoints Vincent Piquet as Chief Financial Officer _PRESS RELEASE_ Paris La Défense, November 24, 2025 – Nexans is pleased to announce the appointment of Vincent Piquet as Chief Financial Officer, effective January 19, 2026. He will join the Nexans Executive Committee and will be based in Paris. Vincent brings comprehensive experience across the full scope of the Finance function, spanning operational performance optimization, functional and strategic transformation, as well as substantial exposure t ...

DU QUOIN, IL / ACCESS Newswire / November 4, 2025 / Prysmian , a world leader in the energy transition and digital transformation, recently held a ribbon cutting ceremony to officially unveil the company's $63.8 million expansion project, which has added 100,000 square feet and 80 new jobs to the existing Du Quoin, Illinois plant. The ceremony also commemorated the facility's 60th anniversary, underscoring Prysmian's longstanding commitment to Southern Illinois and the greater Perry County community. ...

Summary of Ningbo Orient Wires & Cables (NBO) Conference Call Company Overview - **Company**: Ningbo Orient Wires & Cables (603606.SS) - **Industry**: Offshore Wind Power and Cable Manufacturing Key Financial Highlights - **3Q25 Net Profit**: Rmb441 million, representing a **53.1% year-over-year (yoy)** increase and a **129.6% quarter-over-quarter (qoq)** increase [1][2][13] - **Revenue**: Rmb3,066 million in 3Q25, up **16.5% yoy** and **34.2% qoq** [2][12] - **Gross Profit Margin**: Increased to **22.3%**, up **1.3 percentage points (ppts) yoy** and **6.6 ppts qoq** [2][13] - **Backlog**: Rmb19.5 billion as of October 18, 2025, with Rmb11.7 billion from submarine and high-voltage land cable orders [3][14] Market Dynamics - **Offshore Wind Demand**: China aims to add at least **15GW of offshore wind capacity annually from 2026 to 2030**, nearly double the average of **8GW per year from 2021 to 2025** [1][4] - **Installed Capacity Targets**: The goal is to reach **1,300GW by 2030**, **2,000GW by 2035**, and **5,000GW by 2060**, significantly higher than previous targets [4] Order and Delivery Insights - **Strong Order Flow**: NBO's backlog increased by **1.1 times yoy** with a significant portion from high-margin products [3][14] - **Delivery Expectations**: Anticipated increased deliveries in **4Q25 and 2026**, including exports for the Inch Cape Offshore wind project in the UK [3][18] Earnings Forecast - **Earnings Revision**: 2025-2027 earnings estimates raised by **4-8%** due to higher submarine cable sales [1] - **Target Price**: Increased to **Rmb81.00/share**, representing a **37% upside** from the current price of **Rmb66.20** [6][9] Additional Insights - **Cost Reduction**: The unit capital expenditure (capex) for offshore wind projects decreased to **Rmb9,000-12,500/kW** in 2024, down from **Rmb9,500-14,000/kW** in 2023 [29] - **Competitive Pricing**: The average levelized cost of electricity (LCOE) for new offshore wind power has reduced to **Rmb0.3/kWh**, making it competitive with market tariffs [29] Conclusion - NBO is positioned to benefit from the accelerating demand for offshore wind power in China, supported by a robust order backlog and favorable market conditions. The company's financial performance in 3Q25 reflects strong growth, and future earnings are expected to improve further due to increased submarine cable sales and project deliveries.

Trade - The U.S. and South Korea agreed to reduce tariffs on U.S. imports of Korean auto and auto parts from 25% to 15%, aligning them with Japanese competitors [2] - South Korean manufacturers of wood products and pharmaceuticals will benefit from the lowest tariffs, while aircraft parts and generic drugs will face zero tariffs [2] - South Korean chipmakers will maintain competitive parity with Taiwanese competitors, and additional market openings for agricultural products like rice and beef were successfully defended [3] Investment - A $350 billion investment fund will be split into $200 billion in cash, paid in phased installments capped at $20 billion per year, to stabilize the dollar-won onshore market [4] - The remaining $150 billion will focus on shipbuilding cooperation, including guarantees and investments by South Korean companies, aimed at reducing burdens on the foreign exchange market [5] - LS Group, a South Korean cable manufacturer, committed to investing $3 billion by 2030 for U.S. power-grid infrastructure [6] - HD Hyundai, a South Korean shipbuilder, will collaborate with Cerberus Capital Management on a $5 billion investment project to enhance American shipyards and supply chains [7]

Core Insights - Nexans reported strong financial performance for the first nine months of 2025, with organic growth of +5.8% driven by robust Electrification businesses, which grew +9.4% organically [1][5][8] - The company announced the acquisition of Electro Cables in Canada, enhancing its position in the Electrification market and expected to create significant value [3][20][21] - Full-year 2025 guidance was reiterated, with adjusted EBITDA expected between €810 million and €860 million and free cash flow between €275 million and €375 million [5][18] Financial Performance - Standard sales for the first nine months of 2025 reached €5,331 million, up +5.8% organically year-on-year [5][7] - Electrification segment sales amounted to €3,841 million, reflecting a +9.4% organic growth compared to €3,351 million in the same period last year [4][6] - PWR-Transmission segment saw a significant increase in sales, reaching €1,115 million, up +25.3% organically [9][11] Segment Analysis - PWR-Grid recorded sales of €989 million, up +6.7% organically, with a solid trajectory in Q3 2025 showing +9.0% growth [11] - PWR-Connect segment sales were €1,737 million, reflecting a modest +1.4% organic growth, with signs of recovery in various regions [13][14] - Non-electrification segment experienced a decline, with sales of €868 million, down -6.0% organically [15] Acquisition and Strategic Moves - The acquisition of Electro Cables is expected to enhance Nexans' local supply chain efficiency and drive synergies through the rollout of its SHIFT program [20][21] - The company secured €250 million in financing from the European Investment Bank to support R&D and innovation projects [18] Future Outlook - Nexans confirmed its commitment to expanding its production capacity and enhancing its competitiveness in the Electrification sector [18] - The company aims to strengthen its leadership in Electrification and expand its value creation model [1][4]

Core Viewpoint - Nexans has signed an agreement to acquire 100% of Electro Cables Inc., enhancing its position in the Canadian market and strengthening its portfolio in low-voltage cable solutions [1][3]. Company Overview - Electro Cables, founded in 1985 and based in Trenton, Ontario, specializes in low-voltage cables and is recognized for its expertise in high added value solutions [2]. - The company has approximately €125 million in sales for the last twelve months ending July 2025 and employs around 200 people, demonstrating strong growth and profitability [2]. Strategic Implications - The acquisition will allow Nexans to optimize local supply chain efficiency and create valuable synergies through its expanded presence in Canada [3]. - Nexans plans to leverage its proprietary SHIFT program to enhance innovation and operational efficiency post-acquisition [3]. Leadership Insights - Nexans' CEO, Julien Hueber, emphasized that the acquisition aligns with Nexans' strategy to become a leader in Electrification through high added value solutions, reinforcing the company's ambition [4]. - Electro Cables' CEO, Gord Davis, expressed confidence that the core values of service excellence and product quality will thrive under Nexans, enhancing customer relationships [4]. Transaction Details - The transaction is expected to close in the first half of 2026, pending Canadian regulatory approvals and other customary conditions [4].

Leadership Change - Nexans has appointed Julien Hueber as the new Chief Executive Officer, succeeding Christopher Guérin, effective immediately [1][2] - Christopher Guérin will remain available to support Julien Hueber until October 31, 2025 [1] Strategic Direction - The Board of Directors aims to create new momentum to optimize performance while executing the roadmap presented during the last Capital Market Day [2] - The succession process for the CEO role was comprehensive and aligned with the established succession plan, supported by a leading executive search firm [2] Julien Hueber's Background - Julien Hueber, 55, has been with Nexans since 2002 and is currently the Executive Managing Director of PWR Grid & Connect Europe, a business with €2.6 billion in revenue and 23 manufacturing plants [3] - He has extensive experience in supply chain and purchasing, with significant knowledge of the Asia-Pacific region, particularly China and South Korea [3] Board's Confidence - Jean Mouton, Chairman of the Board, expressed confidence in Julien Hueber's ability to lead Nexans, citing his strategic vision and operational excellence [4] - The Board believes Hueber's experience and leadership qualities make him the ideal candidate to drive the company's future strategy [4] Acknowledgment of Previous Leadership - The Board expressed deep gratitude to Christopher Guérin for his contributions over the past seven years, highlighting his role in transforming Nexans into a leader in sustainable electrification [5][6] - Guérin's leadership has restored confidence and pride within the Nexans team, leaving a lasting impact on the company [5][6] Company Overview - Nexans is a global leader in sustainable electrification, focusing on advanced cable solutions and services that support the transition to a low-carbon future [7][8] - The company operates in 41 countries, employs 28,500 people, and generated €7.1 billion in standard sales in 2024 [8]

Core Insights - The 2025 Innovation Summit by Nexans highlighted the critical role of transmission infrastructure in the global electrification strategy, emphasizing that it is no longer a mere technical consideration but a strategic necessity [2][3]. Group 1: Event Overview - The Summit, themed "A New Era of Electrification," gathered leaders from various sectors to discuss modernizing transmission infrastructure to meet increasing electricity demand driven by AI and digital growth [2][4]. - Key discussions focused on how permitting reform, supply chain readiness, and digital innovation can transform the grid into a platform for long-term growth and resilience [4][7]. Group 2: Strategic Insights - Vincent Dessale from Nexans stated that electrification is advancing faster than current systems can accommodate, making the modernization of grids a strategic priority for shaping the future energy economy [3][7]. - The event underscored that transmission is now a determinant of investment returns, energy equity, and resilience, highlighting its importance in the energy landscape [7]. Group 3: Technological Advancements - Digitalization and grid-enhancing technologies, such as dynamic line rating and digital twins, are redefining transmission capacity management and optimization [7]. - The need for immediate action in cable manufacturing, workforce development, and permitting acceleration was identified as crucial for policymakers and investors [7]. Group 4: Collaborative Efforts - The Summit emphasized the importance of partnerships among utilities, regulators, manufacturers, and enterprise energy users to align infrastructure development with the growing demand for electricity [7].