Nexans appoints its first CTO in high voltage push

Nexans appoints its first CTO in high voltage push

Business news |
By Nick Flaherty

Dirk Steinbrink was previously Senior Executive Vice President for Nexans’ High Voltage and Underwater Cable Business Group and will supervise Nexans’ Technology & Innovation group as well as Acceleration Units that are focused on the development of new opportunities such as the Internet of Things (IoT), smart cities and e-mobility.

Steinbeck has experience across the HV market, having lead the Land High Voltage Business Group at Nexans since 2011. Between 2007-2008, Dirk Steinbrink was a Managing Director of Harting Electric, a German-based privately owned company, having joined Alcatel Cable in 1998 as Head of Project Management & Export Sales in Hanover.    

He is preplaced by Vincent Dessale who has been appointed to the Nexans Management Board as Senior Executive Vice President (EVP) for the Subsea & Land Systems business group. This incorporates the High Voltage and Projects business segment with subsea interconnections, offshore wind farms, land high voltage (HV) projects and smart solutions for oil & gas applications – including umbilicals and direct electrical heating (DEH) systems for subsea flow lines. Dessale was previously EVP for the Submarine HV business that has moved into the new group. 

The company recently published its 2017 results, with organic growth of 8.2% in the second half of the year up from 2.4% in the first half, despite slowdowns in businesses in South America and in Oil & Gas business in Asia.

The growth was driven by a 45% increase in sales by the submarine high-voltage business alongside a recovery in cable sales to the building industry and energy operators, with gross profits growing from €375m to €411m on a turnover of €6.37bn at current metal prices (or €4.571bn at constant metal prices), representing organic growth of 5.1% compared with 2016.

In Europe, excluding emerging high-voltage projects (up 36.8%) and automotive harnesses (up 2.3%), sales grew 2.7% from stronger demand for specialty cables, power cables for the building market and growing demand from telecommunications operators.

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