Prysmian Group is investing $2.8 million to expand its Paragould facility. As a result of the expansion, Prysmian Group – which currently employs 182 – will create 12 new positions.
The Paragould location serves as a Tier 2 automotive supply facility. It produces copper wire and other cable products that are designed for the high-end market.
Formerly General Cable, the company merged with Prysmian in 2019 to become part of Prysmian Group, which is headquartered in Milan, Italy. The company is a cable manufacturer that designs, manufactures and distributes “copper, aluminum and fiber optic wire and cable products for the communications, electrical and energy markets,” according to an Arkansas Economic Development Commission (AEDC) press release.
“We have been impressed with our Paragould facility and knew that this was the right place for us to invest our resources,” said Dewayne Kirby, interim plant manager for Prysmian. “Thanks to dedicated workers and support from our local and state partners, Paragould is home.”
This facility was previously operated by Prestolite, dating back to 1989. General Cable purchased the facility in 2012, and General Cable merged with Prysmian in 2018.
Prysmian Group has 112 plants worldwide, including its Paragould location.
“We couldn’t be more excited that Prysmian has chosen to expand its facility in Paragould,” AEDC Executive Director Mike Preston said. “This is a worldwide company that, quite frankly, could have chosen to expand just about anywhere. The fact that they chose Arkansas speaks volumes about our workforce and our business climate.”