Leoni selling part of its activities – Value of transaction EUR 50 million

The German company Leoni is selling its business activities in the field of cable assemblies and harnesses for household appliances and power tools to the Taiwanese company BizLink, Leoni reported.

As stated, the sales and purchase contract has already been signed, and the value of transaction is EUR 50 million.

Leoni is selling the business bundled in the Business Group Electrical Appliance Assemblies, which accounted for consolidated sales of EUR 130 million in fiscal 2015.

The group encompasses locations in Germany, Belgium, Slovakia, Serbia and China, with around 2,000 employees, says the press release.

In Serbia, Leoni has a production facility in Prokuplje, and an agreement on the construction of a facility near Nis was signed in late 2016.

BizLink is a Taiwanese provider of interconnect solutions, headquartered in Fremont, California, and it intends to gain a lasting foothold in the European market with this transaction.

Leoni Wiring System Southeast d.o.o. Prokuplje

BizLink Taiwan

Leoni Prokuplje

Leoni Nis

cable assemblies and harnesses for household appliances and power tools

Electrical Appliance Assemblies