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Paris, June 25, 2001 - Exelon Inc. (NYSE: EXC), one of North America's largest power and gas utilities, has chosen Nexans to be a major supplier of XLPE (Cross Linked Polyethylene) power cable. The contract is worth more than $20 million (USD) in the first two years and has further potential for two one-year extensions.
Exelon Inc., recently formed from Commonwealth Edison of Chicago and Philadelphia Electric Company, is one of North America's largest electric utilities with approximately five million customers and revenues exceeding $15 billion annually.
The contract required that Nexans manufacture the cable to a design standard, engineered by Exelon - in order to reduce the overall cost of its installed cable. In addition, Nexans demonstrated that it could meet strict delivery requirements and manage Exelon's inventory.
Yvon Raak, President of Nexans� Energy Division, commented, "This significant contract was won in the face of very stiff competition and under exacting requirements from Exelon. It underlines Nexans position as a world leader in the cable industry and further demonstrates our ability to increase our market share in an extremely competitive market. This contract is a milestone in Nexans� growth in North America".
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