Prysmian Group Named in World’s Best Companies of 2023 by TIME and Statista

Categories : Corporate 

Highland Heights   -   16/10/2023 - 09:00 AM

Prysmian Group, the world leader in the energy and telecom cable industry, announced it was named among the top quarter of the World’s Best Companies of 2023 by TIME and Statista. The 750 named companies were chosen based on a formula of revenue growth, employee-satisfaction survey and rigorous environmental, social and corporate governance (ESG, or sustainability) data. Prysmian ranked 172 on the list with an overall score of 85.76 and a sustainability ranking of 145.

“At Prysmian, we are building on momentum, tackling important global issues from enabling smart cities to powering the world’s most sustainable infrastructure. Sustainability remains the cornerstone of our mission, and our strategic direction remains steadfastly aligned with this commitment,” said Andrea Pirondini, CEO of Prysmian Group North America. “Our employees are an integral part of that strategy: each day, they rise to the occasion and support this vision of shared sustainability. Together, we continue to foster an environment at Prysmian that stands out as one of the premier workplaces.”

2023 has yielded exciting Prysmian products designed to positively impact North America’s grid hardening efforts, including its breakthrough E3X® robotic technology. The robot system enhances energy transmission efficiency, safety and sustainability. This groundbreaking robotic technology applies heat-dissipating E3X® coating to existing power lines to reduce power grid congestion, unlocking capacity by 15-25 percent for utilities.

Beyond addressing the immediate needs of the grid, Prysmian invested in research and development to support the shift toward renewables and invested in facilities across the region to increase capacity in both the energy and telecom sectors.

Prysmian has also emphasized employee engagement, regularly conducting employee satisfaction surveys that lead to meaningful organizational change.

Most recently, the company announced an investment of $4 million to cover the increasing cost of insurance for its employees, ensuring that if employee retain the same plan and coverage levels, they will not see an increase in medical premiums for 2024. Prysmian also announced a new paternal leave policy, which offers birthing parents 16 weeks of paid leave: 14 weeks of childbirth recovery time and two weeks of bonding time. Non-birthing and adoptive parents receive two weeks of bonding time to care for a new child. The company launched BE IN, an innovative share-incentive plan for more than 25,000 Prysmian employees and reaffirmed its commitment to hiring at least 500 women in STEM roles by 2030.

“We are proud to say that at Prysmian, we prioritize our employees’ wants and needs, with a variety of initiatives aimed at creating a workplace that makes our employees feel valued,” said John Andrews, Vice President of Human Resources for Prysmian Group North America. “We are thrilled to see our company listed as one of the world’s best places to work; it means these initiatives help instill a sense of fulfillment and satisfaction in our employees’ careers.”

Prysmian also focused on capital projects in 2023. Among the investments are a $30M conversion of the company’s Jackson, Tennessee copper cable facility into a state-of-the-art fiber optic cable manufacturing plant, creating new jobs in America that will help close the digital divide, a $22.5M expansion to Prysmian’s Williamsport, Pennsylvania facility to double the U.S.’s ability to manufacture advanced transmission conductors with E3X® technology, a $63.8M expansion project at the Du Quoin, Illinois plant to boost cable manufacturing for the renewable energy sectors, and a $45M expansion project in Sedalia, Missouri that will increase aluminum building wire and cable capacity in Prysmian’s Sedalia facility by 38%.

With its commitment to sustainability and its investments in its people and facilities, Prysmian enters 2024 in a strong position to lead North America in the energy and digital transformation.

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