Reka Cables Ltd becomes part of the Nexans group
The acquisition announced by Reka Industrial in November 2022 for the sale of its subsidiary Reka Cables Ltd to the Nexans group has received regulatory approval and the transaction has been successfully completed.
As a part of the Nexans, Reka Cables has the opportunity to further develop and grow as well as invest even better in renewable energy solutions. ”The business transaction creates new opportunities and will give us even stronger shoulders to support our growth. We are happy about the opportunity to grow and develop in the future as part of Nexans” comments Jukka Poutanen, Managing Director of Reka Cables Ltd.
Lars Josefsson, General Manager BU Nordics, Nexans: ”We are extremely happy to welcome new colleagues and become one of the largest players in the Nordic region. Together we can do even more to solve the greatest challenge of our time, the climate transition, and accelerate electrification both here in the Nordic region and the rest of the world. One of our concrete sustainability goals is that 95 percent of everything we sell in the Nordic region will also be produced in the Nordic region by 2025. By the integration of Reka, we reach 90 percent local production, and are well on our way to reaching the goal ahead of time.”
Nexans is headquartered in Paris, France and operates in 42 countries employing approximately 28,000 people. Nexans’ turnover in 2022 was EUR 8.4 billion. Reka’s three manufacturing plants in Hyvinkää, Riihimäki and Keuruu in Finland are complementing Nexans’ existing operations in Sweden, Norway and Denmark.
As part of the acquisition, Reka Cables will be integrated into Nexans’ Distribution & Usage business group. This operation also highlights a new perspective for both Reka Cables’ and Nexans’ teams, with even more synergies and development opportunities for the future.
About Reka Cables
Reka Cables Ltd has been at the forefront of the cable industry for more than 60 years. Reka Cables provide durable, high-standard cable solutions for renewable energy production, network construction, industry as well residential and office construction. Reka Cables has approximately 270 employees and its turnover in 2022 was 172 million euros. Company’s three production facilities are located in Finland: in Hyvinkää, Keuruu and Riihimäki. In November 2021, Reka Cables became one of the first cable manufacturers to achieve carbon neutrality in Scope 1 and Scope 2 areas.
For more information, please visit www.rekacables.com
For over a century, Nexans has played a crucial role in the electrification of the planet and is committed to electrifying the future. With 28,000 people in 42 countries, the Group is paving the way to a new world of safe, sustainable and decarbonized electricity that is accessible to everyone. In 2022, Nexans generated 6.7 billion euros in standard sales. The Group is a leader in the design and manufacturing of cable systems and services across four main business areas: Power Generation & Transmission, Distribution, Usage and Industry & Solutions. Nexans was the first company in its industry to create a Foundation supporting sustainable initiatives, bringing access to energy to disadvantaged communities worldwide. The Group pledged to contribute to carbon neutrality by 2030.
Nexans. Electrify the future.
Nexans is listed on Euronext Paris, compartment A.
For more information, please visit www.nexans.com
Managing Director Jukka Poutanen
Tel. +358 40 833 9007