(Reuters) – Nexans said on Wednesday it would turn its U.S.-based plant into an export hub if the offshore wind sector was challenged under Donald Trump’s second stint as president.
The French power and data cable specialist’s plant in Charleston, South Carolina makes undersea cables used by the U.S. offshore wind market.
During its Capital Markets Day event, Nexans management said it could redirect U.S.-made cables to Europe with little impact on its margins.
“I think we are risk-free when it comes to a worsening case, Trump stopping any tendering U.S. offshore activity in the next four years in the U.S.,” said Jean-Christophe Juillard, Nexans’ deputy CEO and chief financial officer.
The offshore wind industry is bracing for a U.S. impact, with two of the world’s biggest players in the sector, Siemens Energy and RWE, warning of challenges and potential delays for the technology slammed by the president-elect on Wednesday.
(Reporting by Nathan Vifflin in Gdansk; editing by Milla Nissi)
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