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German Leoni to invest USD 38 million in new plant in Bulgaria

Auto News - Published on Fri, 15 Jun 2018

Image Source: ukrinform.com
Reuters reported that German automotive cable supplier Leoni plans to open a plant in northern Bulgaria and create 2,000 jobs, a senior Leoni official said. The company, which operates in 31 countries and is the biggest supplier of wiring systems in Europe, will invest EUR 32 million in the new facility, Mr Ralf Singmann, Leoni's Head Plant Manager for Europe, told reporters.

Mr Singmann added that the plant should start operating by the end of the year and become fully operational in 2020.

The car part business has been growing fast in Bulgaria, with 170 companies producing cables, electronics, wipers and fabrics for major car producers, employing more than 40,000 people and creating over 4 percent of national output.

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Posted By : Nanda Koijam on Fri, 15 Jun 2018
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