Casablanca, 13 April, 2016
PRESS RELEASE
Alstom takes control of Cabliance by acquiring Nexans stake
13 April 2016, Alstom and Nexans signed an agreement defining the terms of a new governance for Cabliance, the joint venture set up in Fes, Morocco, with a 50/50 holding. After a five-year partnership, Alstom has acquired Nexans shares to become the exclusive owner of the company, Cabliance.
Within this joint venture created in 2011 and dedicated to the production of cable bundles for rail applications and electrical switchboxes, Alstom designed sub- assemblies and Nexans managed industrialization and production. The current change will take effect after Nexans, in cooperation with Alstom, has transferred the necessary skills for its Moroccan partners to manage the state-of-the-art technology in the sector. Cabliance currently employs 250 people and generated a turnover of
€13.7 million in 2015.
Alstom considers Morocco as a market with strong potential and a gateway between Europe and its new developing markets in sub-Saharan Africa and is delighted with this agreement, which will contribute to the economic and industrial development of the country.
"Acquiring a 100% holding in Cabliance confirms Alstom's intention to continue its business in Morocco on a long-term basis and to remain a fully fledged industrial partner, investing in the strategic business segments of the Moroccan economy"
declared Gian-Luca Erbacci, Senior Vice-President of Alstom for the Middle East and Africa.
"Nexans is proud to have contributed to the development of high-level local expertise for its Moroccan partners and the success of Cabliance. Nexans will continue along these lines and diversify its activities, as well as invest in new markets in Morocco and in sub-Saharan Africa," commented Karim Bennis, Managing Director of Nexans Morocco.
Cabliance's performance has been remarkable over its years of activity. After delivering the first Citadis tramway in Casablanca in July 2012 and equipping Morocco’s high-speed train line, Cabliance has acquired an international dimension.
Cabliance is now at the heart of a full scale ecosystem, featuring over 22 local suppliers and contributing to Morocco’s reputation around the world.
The turnover of the joint venture has doubled every year since its creation, illustrating its economic success. Its long-term growth is based on a strong corporate culture, dynamic teams and its ability to adapt its industrial resources to demand.
Nexans will continue with business operations on the energy transmission and distribution markets, and open up more extensively to the development of renewable energies and the industrial market, where the Group can already boast many competitive advantages. Furthermore, Nexans’ Moroccan subsidiary launched a large-scale investment programme in 2015 for the development of instrumentation cables, a new sector, and the deployment of a new industrial subsidiary in Côte d’Ivoire, confirming its position in the Sub-Saharan region.
The partnership between the two companies has enabled the joint venture to supply advanced equipment featuring state-of-the-art technology for many rail markets. The development of high-level local expertise was one of the strategic targets set by Cabliance, and which it is proud to have achieved.
Alstom will continue on its current route by continuing to focus on avenues of
development by co-locating its expertise and promoting the development of its local know-how. Cabliance therefore still aims to continue its development on a strongly buoyant transport market, at both national and international levels.
About Alstom
As a promoter of sustainable mobility, Alstom develops and markets systems, equipment and services for the railway sector. Alstom manages the widest range of solutions in the market – from high-speed trains to metros and tramways – and associated maintenance, modernisation, infrastructure and signalling solutions. Alstom is a world leader in integrated railway systems. It recorded sales of €6.2 billion and booked €10 billion of orders in the 2014/15 fiscal year. Headquartered in France, Alstom is present in over 60 countries and employs 32,000 people today. www.alstom.com
Contacts :
Linda Huguet – Tel. + 33 1 57 06 10 42 linda.huguet@alstom.com
Justine Rohée – Tel. + 33 1 57 06 18 81 justine.rohee@alstom.com
Riccardo Pierobon – Tel. +213 560146931 riccardo.pierobon@alstom.com
About Nexans
Nexans brings energy to life through an extensive range of cables and cabling solutions that deliver increased performance for our customers worldwide. Nexans’ teams are committed to a partnership approach that supports customers in four main business areas: Power transmission and distribution (submarine and land), Energy resources (Oil & Gas, Mining and Renewables), Transportation (Road, Rail, Air, Sea) and Building (Commercial, Residential and Data Centers).. Nexans’ strategy is founded on continuous innovation in products, solutions and services, employee development, customer training and the introduction of safe, low-environmental-impact industrial processes.
In 2013, Nexans became the first cable player to create a Foundation to introduce sustained initiatives for access to energy for disadvantaged communities worldwide.
Nexans Maroc employs 800 people and generated sales in 2015 of 1.69 billion dirhams.
More information on www.nexans.ma
Contacts Nexans Maroc
Jihane Moumine - Tel : +212 522 762 984 jihane.moumine@nexans.com
