Italy's Prysmian Group won a bankruptcy auction for selected assets from a high voltage factory formerly operated by Shen Huan Cable Technologies, for a value of about RMB 305 million (EUR 42 million).
When the transaction is complete, Prysmian Technology Jiangsu will control production and logistic facilities consisting of an area of more than 190,000 m2, with five production lines and a total production capacity of more than 20,000 tons a year.
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