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The South Carolina Department of Commerce and Prysmian Power Cables and Systems USA announced that the company will expand its South Carolina operations in Abbeville County. Prysmian Power Cables and Systems USA, a global leader in Power and Telecommunication Cables and Systems, will invest approximately $35 million to expand its manufacturing operations in the United States to produce High and Extra-High Voltage power cables by the first half of 2009. The company plans to create 32 new jobs as a result of the expansion.
�This investment in Extra High Voltage Power Cables combines state-of-the-art Vertical Extrusion Manufacturing Technology and a highly dedicated and skilled workforce in Abbeville, further reinforcing Prysmian�s leadership in High Voltage Cable Systems design and installation,� said Martin J. Hanchard, President and Chief Executive Officer of Prysmian. �Transmission grid re-enforcement is a stated National priority. This investment responds directly to our customers� need to avail themselves of best-in-class technology, quality, and service in North America. We thank the State of South Carolina for its ongoing support and commitment to Prysmian,� added Scott R. Adams, Vice President of Law and Human Resources. The new facility in Abbeville, South Carolina will be located adjacent to its existing Medium and Low Voltage power cable manufacturing facility and is scheduled to begin operation within the first half of 2009. The expansion will allow Prysmian to further reinforce its market leadership position and expand its North America product range to include Extra High Voltage Extruded power cables. �As we work to compete in the global economy, our state�s ability to attract new investment and grow existing industries is increasingly important. Today�s announcement speaks to our success in that regard as well as our efforts to improve the state�s economic soil conditions to promote business growth. We remain committed to continuing these efforts to grow existing business and further opportunities for more South Carolinians,� said Gov. Mark Sanford. �Prysmian is an industry leader in high-tech cables and systems equipment with an impressive global presence. The company�s decision to expand in Abbeville County is a testament to the strength of South Carolina�s workforce and business-friendly climate. Thanks to the team efforts of state and local officials, Abbeville County will benefit from this new investment,� said Joe Taylor, Secretary of Commerce. This investment in High and Extra-High Voltage power cables will better position Prysmian to serve the North American commercial and utility markets� growing needs and support underground transmission system development in North America. �We are thrilled to have Prysmian in Abbeville County. Their expansion will bring more high-paying jobs to our area and gives more companies reason to look to Abbeville for their growth needs,� said Steve Bowles, director, Abbeville County Development Board. Prysmian is the sixth economic development victory for Abbeville County totaling this year�s development commitments to $47 million and 295 new jobs. A leading player in the industry of high-technology cables and systems for energy and telecommunication, the Prysmian Group is a global company with sales exceeding 5 billion euro in 2006 and a strong position in higher-added value market segments. Prysmian boasts a global presence with subsidiaries in 34 countries, 54 plants in 20 countries, seven Research & Development Centres in Europe, USA and South America, and over 12,000 employees. In North America, Prysmian presently has four production plants, two in the USA (Abbeville and Lexington, South Carolina) and two in Canada (St. Jean, Quebec, and Prescott, Ontario). (Images provided by Clemson.)
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