The Italian-American Chamber of Commerce has selected Prysmian as the recipient of its 2025 Transatlantic Award. The cable manufacturing giant is being recognized for a substantial 245 million euro investment to expand its Encore Wire facility in McKinney, Texas. This move highlights the critical importance of the North American market to the group’s global operations.
US Market: A Core Pillar of Growth
Francesco Gori, Chairman of Prysmian’s Board of Directors, emphasized that the United States now accounts for nearly half of the corporation’s total revenue and employs one-third of its worldwide workforce. The strategic direction and future growth of the company are being significantly shaped by its activities in this region. The acquisition of Encore Wire for 3.9 billion euros in July 2024 was a pivotal step, securing a leading market position and dramatically enhancing Prysmian’s local footprint.
Capital Allocation for Capacity and Jobs
The 245 million euro capital injection is earmarked primarily for the construction of a new, advanced manufacturing plant at the McKinney campus. This facility will focus on producing medium-voltage cables. With operations scheduled to commence in 2027, the project is expected to create approximately 120 new jobs and substantially boost production capacity in this key segment. Though Encore Wire is now a privately held, wholly-owned subsidiary, its integration is proceeding rapidly and it continues to play a central role in modernizing the U.S. electrical grid.
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Responding to Surging Demand
This expansion is a direct strategic response to two powerful market trends: skyrocketing demand from data centers and the ongoing nationwide push for electrification. The investment strengthens Prysmian’s ability to serve these high-growth sectors from within the United States. In a related strategic development, the company has appointed Gen-Mark as its new distribution partner for the important industrial market in Ohio, further solidifying its commercial network.
The Transatlantic Award underscores the success of Prysmian’s calculated move to deepen its roots in North America through both a major acquisition and follow-on capital expenditure, positioning the company at the heart of the region’s infrastructure development.
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