Business
Prysmian Invests $500 Million to Support Growing Electrification Demand and U.S. Power Grids Through Encore Wire Expansion
Prysmian Invests $500 Million to Support Growing Electrification Demand and U.S. Power Grids Through Encore Wire Expansion
About this update from Prysmian S.p.a.
Groundbreaking ceremony for 650,000+ Square Foot Facility in McKinney, TexasUp to 120 new jobs to be createdEncore Wire site central to Prysmian's evolution from cable manufacturer to solutions provider in the U.S.MCKINNEY, TX / ACCESS Newswire / June 19, 2025 / Prysmian yesterday held a groundbreaking ceremony to kick off its $500 million investment at the Encore Wire campus over five years. Included in the figure is the $249 million Prysmian Board of Director's approved during the Capital Market Day event in March. This groundbreaking marks a significant advancement for the company, nearly a year after Prysmian's acquisition of Encore Wire to serve electrical customers in North America through Encore's outstanding service model.L to R: Michael Kowski, MEDC President & CEO, Bill Cox, Mayor City of McKinney, Andrea Pirondini, CEO Prysmian North America, Troy Skidmore, Encore Wire Head of Human Resources, Michelle Bishop, District Director for Rep. Keith Self, Michael Flusche, North Texas Regional Director for Sen. Ted CruzThe Encore Campus and its unique business model are essential as part of Prysmian's evolution from a cable manufacturer to a solutions provider, serving customers with the quality and speed that is essential to unlock major energy priorities, ranging from data centers, the U.S. industry, and the strengthening of our power grid.The project centers around a state-of-the-art medium voltage cable production facility totaling more than 650,000 square feet. Expected online in 2027, the plant will significantly increase Prysmian's medium voltage capacity and add 120 new jobs."This new plant will be one of the largest standalone facilities on our campus, which is the largest vertically integrated cable factory on the planet and is a major milestone in the Prysmian/Encore Wire growth," said Andrea Pirondini, Prysmian North America CEO.Encore Wire started in 1989 with a 68,000 square foot industrial warehouse building in McKinney. Over the past 35 years, Encore has grown to over 3.5 million square feet across 460 acres. The new investment reinforces Prysmian's commitment to the City of McKinney and the region, while strengthening Prysmian's portfolio of U.S. manufactured products.In addition to Prysmian leaders, U. S. Representative Keith Self's District Director Michelle Bishop presented a Congressional certificate to Pirondini marking the import...