Nexans to close its cable factory dedicated to the Defense Market in the US
Elm City factory in North Carolina will cease production on June 30 2016
Paris, March 31 2016 - Nexans has announced that its US Subsidiary based in Elm City, North Carolina has decided to close its cable factory focused on the production of defense wires and cables. The decision has been taken in response to both a lack of profitability for the factory combined with the generally unfavourable mid to long term prospects for the defense cable market in the region.
Employees at the Elm City factory have been notified of the closure and production will cease on June 30 2016.
The Nexans Group will continue to service the aerospace and defense cable markets, from the Group’s existing factories in other locations.
As a global leader in advanced cabling and connectivity solutions, Nexans brings energy to life through an extensive range of best-in-class products and innovative services. For over 120 years, innovation has been the company’s hallmark, enabling Nexans to drive a safer, smarter and more efficient future together with its customers. Today, the Nexans Group is committed to facilitating energy transition and supporting the exponential growth of data by empowering its customers in four main business areas: Building & Territories (including utilities, smart grids, emobility), High Voltage & Projects (covering offshore wind farms, submarine interconnections, land high voltage), Telecom & Data (covering data transmission, telecom networks, hyperscale data centers, LAN), and Industry & Solutions (including renewables, transportation, Oil & Gas, automation, and others). Corporate Social Responsibility is a guiding principle of Nexans’ business activities and internal practices. In 2013 Nexans became the first cable provider to create a Foundation supporting sustainable initiatives bringing access to energy to disadvantaged communities worldwide. The Group’s commitment to developing ethical, sustainable and high-quality cables drives its active involvement within several leading industry associations, including Europacable, The National Electrical Manufacturers Association (NEMA), International Cablemakers Federation (ICF) or CIGRE to mention a few. Nexans employs more than 26,000 people with industrial footprint in 34 countries and commercial activities worldwide. In 2017, the Group generated 6.4 billion euros in sales. Nexans is listed on Euronext Paris, compartment A. For more information, please consult: www.nexans.com