NKT, based in Denmark, has inaugurated its new and expanded power cable factory in Espinho, Portugal. This factory, which dates back to 1968, has been launched with a €50 million investment to increase the production of medium and high voltage power cables.
Investment Details and Objectives
The inauguration of this factory on October 20, 2023, was accompanied by a special ceremony. This investment includes the establishment of new production lines, modern equipment, and improvements to laboratory facilities. The new capacity of the factory is expected to gradually become operational in the coming months.
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NKT's History and Progress in Portugal
This project has occurred two years after NKT's acquisition of the Portuguese power cable manufacturer SolidAl in June 2024. Following this acquisition, the company's name was changed to NKT, and now this factory is recognized as a key part of NKT's operations in Europe. Carlos Fernandez, Executive Vice President and Head of Distribution at NKT, said: "This development represents a significant milestone for NKT and our partners in Espinho. We have achieved substantial integration and expansion of this site in less than two years since acquiring SolidAl."
He also added: "The new capacity and capabilities enhance our ability to support customers in the development and modernization of power networks, positioning Espinho as an important part of NKT's manufacturing base in Europe. We take pride in continuing to invest in this site, its people, and our operations in Portugal."
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