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Pirelli to set up new Brazilian special cables plant by 2006

&#8226 PIRELLI TO SET UP A NEW BRAZILIAN FACTORY
BY 2006 TO PRODUCE HIGH-TECH SPECIAL CABLES FOR
OFFHORE OIL PLATFORMS

&#8226 WITH SUCH INVESTMENT (OVERALL 20 MILLION
EUROS), PIRELLI AIMS TO FOCALIZE ON TOP-LEVEL SPECIAL CABLES FOR
OIL& GAS

&#8226 THE NEW PLANT WILL SERVE THE MOST
IMPORTANT OFFSHORE MARKETS IN THE WORLD

Milan, 26 April 2005 Pirelli
started works to realize in the Brazilian
State
of Espirito Santo (Vila Velha)
a new factory of special cables
umbilicals
, used in offshore oil
platforms. Through this plant, Pirelli will be able to strengthen
its offer in the OGP (Oil Gas and Petrochemical) sector and provide
its clients the most technologically advanced
cables
in the market.

The new plant is forecasted to be completed by
2006 , will serve the most important world markets
in the sector and will produce umbilical cables both with
thermoplastic and steel-tube technologies. The overall
investment
for Pirelli amounts to approximately 20
million euros
.

With the new factory in Brazil , Pirelli aims to
focalize on umbilicals, top-level cables in
the OGP segment
, its strategy of growth in the sector,
even profiting by the Company’s
know-how and global leadership in
the submarine systems for energy transmission. The
umbilicals segment is forecasted in strong growth
(+50% year on year) in the 2006-2008 three year period.

Umbilical are special cables that connect the well heads at the
bottom of the ocean to surface vessels and platforms. These cables
carry out multifunctional activities , allowing
the transmission of power and data (with fiber optic) to the well
heads, as well as hydraulic fluids. All of these are combined to
activate valves and pumping equipment to process the flow of
oil.

The new Brazilian factory Valerio
Battista
, Managing Director of Pirelli Energy Cables and
Systems says will consolidate our industrial presence
in Latin America, an area which has always been strategic for the
Pirelli Group, even in the Energy Cables and Systems Sector, and
will allow us to focus further on the high value added segment of
special cables in the Oil& Gas. Such investment confirms our
positioning in any highly technological segment of energy cables,
through the excellence of our solutions
.

Download the Press Release (PDF, 184Kb)