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Paris, February 2, 2006 - Nexans, the worldwide leader in the cable industry, today announced the sale to Rexel, effective February 1, of its Swiss distribution activities (Electro-Matériel SA) for an enterprise value of 206 million euros. Electro-Matériel SA is Switzerland's leading wholesale distributor of electrical products and appliances.
“Through this sale, we are actively pursuing our strategy of refocusing our product portfolio on our cable business,” said Gérard Hauser, Chairman and CEO of Nexans.
In 2005, Electro-Matériel SA had sales of 189 million euros.
As of December 31, 2005, the company had 396 employees.
As a result of the sale of Electro-Matériel, Nexans will record a capital gain of approximately 150 million euros in the first half of 2006.
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