COLUMBIA, S.C. – Prysmian Group, a world leader in the telecom cables and systems industry, today announced a planned expansion of the company’s North American headquarters in Lexington County. The expansion will exceed $15 million of capital investment and is projected to create 30 jobs over the next five years.
In May 2017, Prysmian Group, which employs approximately 20,000 people across 50 countries worldwide, announced plans to make significant investments throughout North America. The investments will allow the company to execute a three-year, $300 million contract to aid Verizon in the development of its 5G and new broadband networks. Under this agreement, Prysmian Group will supply nearly 11 million miles of ribbon and loose tube cables.
The Lexington County expansion is part of that North American investment and, once completed, will make the facility Prysmian’s top producer of fiber cable in the world. This project complements two additional South Carolina investments, which the company announced earlier this year.
In July, Prysmian announced a $14 million investment in its Abbeville facility to fulfill future renewable energy projects. In August, the company broke ground on a new research and development center expansion in Lexington, bringing additional industry experts from around the world to South Carolina.
For more information on the Prysmian Group, visit the company’s website.
The Coordinating Council for Economic Development has approved job development credits related to this project.