NKT will rebrand the Portuguese medium and high voltage factory SolidAl, which will now change its name to NKT. This is part of the continued integration following the acquisition of the factory in Esposende in June 2024. The cable manufacturer announced this in a statement.
The rebranding is part of a targeted strategy to strengthen the company's position in countries such as Portugal, Spain, France, Ireland and the UK. Under one unified brand, NKT can better deliver complete cable systems to meet the increasing needs for electrification and modernization of the power grids in Europe.
- As the electrification of society continues to increase, Europe's aging power grid is in significant need of updating. According to the International Energy Agency, investments in power grids must double by 2030 to support the necessary upgrades. NKT’s presence and customer offering is now being strengthened under one brand across Europe, while investing in increasing capacity across multiple locations. This will play a key role in delivering the medium and high voltage cables needed to modernise and expand Europe’s electricity grid, says Carlos Fernandez, Executive Vice President, Head of Applications at NKT.
At the same time, NKT is investing EUR 50 million in expanding capacity at the Esposende factory, which now forms an important part of the Applications business area. The factory employs 430 people and has a production capacity from 1 kV to 225 kV on an area of 70,000 m2. It was founded in 1970 and is located 50 km north of Porto.
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