ECONOMY

Nexans CEO on Greek eurozone exit prospect

Nexans SA, the world?s second-biggest cable maker, said a departure by Greece from the euro would reduce foreign companies? cost of manufacturing in the country.

?If Greece were to exit the euro area, cynically, it would become a low-cost production base,? Chief Executive Officer Frederic Vincent told journalists on Thursday in response to a question on the prospect.

Nexans?s Greek plant is breaking even as exports of low- and medium-voltage gear to the Middle East counter losses on the domestic market. [Bloomberg]