Newsletter 43 – Nexans completes Centelsa acquisition to electrify Latin America
Nexans announced the successful completion of the acquisition of Centelsa, a premium cable manufacturer in Latin America specialized in building and utilities applications, from Xignux S.A. (headquartered in Mexico) following receipt of regulatory clearance.
This transaction completes an additional milestone of Nexans’ strategy to become a Pure Electrification Player focusing on the overall value chain originating in generation and flowing through transmission, distribution, and usage of sustainable energy.
With a total turnover of more than US$ 339 million in 2021, Centelsa’s three manufacturing plants in Cali, Colombia and their distribution center in Ecuador will complement Nexans’ presence in Latin America. Nexans already operates four industrial plants in Colombia, Peru, Chile and Brazil and employs 1,300 people. Nexans regional headquarters will now be located in Cali.
Nexans and Centelsa share a culture that emphasizes premium customer service and experience. Their collective histories as pioneers in sustainable technologies combined with their experience in electrification will benefit customers with enhanced solutions. The Group will also be able to build for its customers and partners a unique premium brand in the distribution and usage markets, while accelerating the development of a renewable energy offering across the region.
Nexans will foster its Amplify program for innovation with the creation of a Design Lab in Cali, Colombia. This will include a fully dedicated team to enhance innovation based on Latin American customer experience and needs.
The company has had the support of national and regional entities in its consolidation in the region, such as ProColombia -an entity of the Ministry of Industry, Commerce and Tourism- and Invest Pacific -the investment promotion agency of Valle del Cauca.