Leoni takes over Romanian plant of AEES Power Systems

Wednesday, May 05, 2010

Leoni acquired the manufacturing assets of the AEES Power Systems Group plant in Beiuş in north-western Romania effective 1 April. The additional business volume sums up to a single-digit million Euro amount per year.

The plant was acquired from AEES Power Systems, which restructured its European operations in early 2010. In connection with that restructuring, Leoni was asked to continue with the supply of cable harnesses for batteries and chassis to two truck manufacturers. For this purpose Leoni has acquired the manufacturing assets and taken over 375 employees. The company was therefore able to secure production and delivery without any interruption for the customers out of the existing plant in Beiuş starting 1 April.

Thanks to this new project, Leoni enlarges its market share in the commercial vehicles harness business, which has recently begun to recover after a deep slump in 2009. "This deal is an outcome of the consolidation process in the automotive supplier industry. We are very pleased that we thus were able to ensure undisrupted supply of these absolute vital parts to two very important clients", states Uwe H. Lamann, Member of the Executive Board responsible for the Wiring Systems Division at Leoni.

Source: Leoni