News

Claremont Company to Invest $54M, Create 50 New Jobs

November 12, 2017

Prysmian Group, billed as a world leader in the energy and telecom cable and systems industry, announced an expansion to the company’s facility in Claremont on Wednesday, according to a press release. “The City of Claremont and Catawba County have been true partners with Prysmian Group over the years, and we look forward to continuing our investments throughout North America to positively impact communities with innovative telecom solutions,” Hakan Ozmen said via the release, who is the CEO of Prysmian Group North America. The $54 million investment will increase the plant’s capacity by 60 percent, and with this investment, Prysmian Group has approved a capital expenditure of more than $79 million for its Claremont facility since 2014, according to the release. The company, which employs 21,000 people across 50 countries, expects the Claremont expansion to generate 50 new jobs with an average salary of $44,000 over the next three years, according to the release.

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