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PRYSMIAN GROUP TO ACQUIRE EHC GLOBAL

Prysmian Group announced on July 22 it will acquire 100% of EHC Global, "a complementary add-on to Prysmian's Draka Elevator business." Draka offers more than 7,000 components for the vertical-transportation (VT) industry and generated more than EUR250 million (US$289.3 million) in revenue in 2019. Draka products can be found in iconic skyscrapers, including those in Hudson Yards in NYC, Dubai's Burj Khalifa, Marina Bay Sands in Singapore and The Shard in London. Headquartered in Oshawa, Canada, with manufacturing and distribution facilities in North America, South America, Europe and China, EHC Global, a supplier of escalator handrails and other VT components, generated revenue of CAD119 million (US$88.5 million) and realized earnings exceeding CAD18 million (US$13.39 million) in 2019. The deal is expected to close in the fourth quarter of 2020.

Image credit: courtesy of EHC Global

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