Groundbreaking ceremony - NKT expands Danish cable production
NKT has cut the first sod for the expansion of its cable factory in Asnaes. To support the electrification of Europe, the green transition and the increasing demand for power cable solutions for the critical infrastructure, NKT is investing in additional production capacity in Denmark. The expansion of the factory involves the expansion of the production facilities and that NKT will hire approximately 100 new employees.
Press release
1 October, 2024
Since 1891, NKT has been producing cables in Denmark, and now NKT is expanding its involvement at the factory in Asnaes. On Monday 30 September, NKT broke ground with the groundbreaking ceremony for the factory expansion, where employees, management and a number of invited guests had arrived to mark the important milestone.
Driven by the green transition and the continued electrification of Denmark and the rest of Europe, the market for power cable solutions for the critical infrastructure has grown steadily in recent years and is expected to continue the positive development.
To meet the increasing demand and strengthen its strong market position, NKT is investing further in the medium-voltage cable business, including a significant expansion of the factory in Asnaes in Denmark.
The expansion of the factory involves the expansion of the production facilities, including a new factory hall and new test facilities. NKT expects to hire approximately 100 new employees in connection with the expansion. The expansion of the factory is expected to be completed in 2026.
Production in Denmark is important for NKT
"A robust and expanded electricity grid is essential for the utilization of the increased integration of renewable energy and the continued electrification of society. With our expertise, experience and technology, we are in a good position to continue to be a leading partner when it comes to the safe expansion and renewal of the electricity grid. Our expansion of the factory in Asnaes underlines our ambitions and strengthens our ability to serve our customers in the best possible way," says Claes Westerlind, CEO of NKT.
"Even though NKT has grown to be a global company today, our Danish roots are significant. In terms of production, we have a strong foothold in Northern Europe, and our Danish production capacity is an important factor in developing and strengthening our business in medium-voltage cables. We look forward to expanding the Danish production and our presence in Asnaes," says Carlos Fernandez, EVP and head of the Applications business unit covering low and medium voltage cables in NKT.
About NKT Applications and NKT in Asnaes
- Applications is a business area for NKT with a focus on low and medium voltage cables
- Application's primary production sites are located in Denmark, the Czech Republic, Poland, Sweden, the United Kingdom and Portugal. Each production site is focused on one or more market segments
- Applications employs approximately 1,500 people across Europe and realized a turnover (in standard metal prices) of EUR 638 million in 2023.
- NKT currently has approx. 200 employees in Asnaes
- Asnaes produces medium-voltage cables and specialised 1 kV cables and is the logistical hub for Scandinavia
- NKT has had cable production in Asnaes since 1965
Photo
NKT groundbreaking picture. From left to right:
- Henning Overgaard, Chairman of 3F
- Jørgen S. Christensen, Chief Technology Officer at Green Power Denmark
- Karina Vincentz, Mayor of Odsherred Municipality
- Lars Sandahl Sørensen, CEO of Danish Industry
- Morten Bødskov, Minister for Industry, Business and Financial Affair
- Claes Westerlind, CEO, NKT
- Carlos Fernandez, EVP, Applications, NKT
- Emil Drevsfeldt Nielsen, Head of Business Policy at Dansk Metal
NKT Asnaes illustration 01: Illustration of the upcoming expansion of the factory. The image shown is for illustration purpose only and may not be an exact representation of the final facility.
Source: NKT
About NKT
NKT connects a greener world with high-quality power cable technology and is at the center of the world's move towards green energy. NKT designs, manufactures, and installs low-, medium-, and high-voltage cable solutions that enable sustainable energy transmission. Since 1891, NKT has been innovating power cable technology and building the infrastructure for the first light bulbs for the megawatts created by renewable energy today. NKT is headquartered in Denmark and employs 6,000 people. NKT is listed on Nasdaq Copenhagen and realized a turnover of EUR 2.6 billion in 2023. www.NKT.com.
Contact
Christoffer Hellmann, Lead Communications Advisor
+45 2529 1784 / christoffer.hellmann@nkt.com
