Cable maker Prysmian confident diversification will minimise virus fallout [Reuters]
PRYSMIAN S.P.A. UNSP/ADR (PRYMY)
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Source: Reuters
Cable maker Prysmian confident diversification will minimize virus fallout MILAN (Reuters) - Prysmian , the world’s largest cable maker, said on Tuesday that sales in China were rebounding from the impact of the coronavirus but it was too soon to assess how the spread of the disease worldwide will affect its earnings this year. Prysmian, which supplies cables for industries ranging from high voltage power transmission to offshore wind-farms, telecoms and cars, is based in Milan in northern Italy, the epicenter in Europe for the virus. However, with 106 plants around the world, CEO Valerio Battista said the group was able to shift production from one plant to another. “If we need to stop a plant in Italy, we can still feed the market with products from other areas, we’re very flexible,” Battista told Reuters in a phone interview. He added that plant closures were mostly affecting countries like Italy and Spain, while operations in the rest of Europe, the United States and Asia, includi
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