CORPORATE NEWS:
Leoni buys Kerpen
Leoni's unabashed aim is to be Germany’s leading manufacturer of cables as well as cabling systems for data communications. With this in mind, the company has acquired all the shares in Kerpen, a data and special cables manufacturer. The parties agreed not to disclose the details of the transaction.
Kerpen develops, produces and distributes copper and glass fibre-based systems for data communications and other industrial applications (measuring, controlling and regulating applications) particularly in the oil exploration, refinery and major chemical business sectors. The Stolberg-based company employs about 610 people and in 2004 generated sales of approximately Euros 100 million (US$122m).
This acquisition follows Leoni's July purchase – subject to cartel authority approval – of neumatic Elektronik + Kabeltechnik GmbH & Co KG. That company’s focus is mainly on developing and manufacturing tailor-made cable harnesses as well as dedicated electronics solutions for wiring and controlling commercial and special vehicles as well as cranes. In total, neumatic employs a workforce of about 200 and sales generated about Euros 10 million (US$12m) in 2004.
Leoni says: "Our aim with the acquisition of neumatic Elektronik + Kabeltechnik GmbH & Co KG is to further extend our position in the market for special cables and ready-to-fit cable systems. As a first step in this direction, we acquired the special cables assembler Klink+Oechsle last year. neumatic will now complement our existing product range with its extensive expertise in customised wiring and electronics solutions for commercial and special vehicles."
Company: |
Leoni AG |
Country: |
Germany |
Fax: |
+49 911 202 3231 |
Email: |
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Website: |
www.leoni.com |