PARIS – Nexans has negotiated a €200-million ($225.6-million) loan facility with European Investment Bank, allowing the company to finance R&D and new product developments.
More specifically, Nexans plans to speed up digitalization and energy-efficiency measures of its facilities and expand its cables plant in Halden, Norway.
Early this year the company announced plans to add two new lines for HVDC export cables manufacture at Halden by 2024.
Digitization of the factories should improve efficiency of its production lines, enabling predictive maintenance and carbon emissions reductions.
The company plans to also scale up innovations from its Cloud Digital Factory and Design Labs and related solutions such as INFRABIRD and VIGISHIELD.