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Leoni subsidiary sold to India’s Ravicab

Ravicab Cables Private Limited announced that it has acquired Leoni Cable Solutions (India) Private Limited (LCSI), a subsidiary of Leoni AG located in Bengaluru.
A press release said that the acquisition of India’s LCSI “provides an expansion in market reach, extension in product range and finds a perfect synergy with the growth aspirations of Ravicab.” For the acquired business, this means a clear perspective for future development in terms of investment and growth. LCSI, which opened in 2013 with a production area of around 15,000 sq m, had revenues of approximately €25.5 million in 2021 and a workforce of 190 people. The plant manufactures wire and cable for domestic, industrial, signaling applications, and specialty markets.
Ravicab reported that with the LCSI acquisition, it has leverage in the specialty products business of renewable energy and railways with E-Beam cable. Ravicab, has also inherited LCSI’s processes and systems for manufacturing specialized cables, which include iconic brands like Kerpen and Icon.
The sale was part of Leoni’s Wire & Cable Solutions Division (WCS), which it has been divesting. “This sale is another step in the process of gradually selling the WCS division and concentrating our business on the Wiring Systems division (WSD).”
Per Leoni, the currently largest remaining unit in the WCS division is its Business Group Wire Products & Solutions (BG PS), a relatively small unit. “For this unit, too, we are constantly reviewing the optimal setup and the best possible future ownership structure.”
The two central units of the WCS division were the Business Groups Industrial Solutions and Automotive Cable Solutions. In other news, Leoni reports that its two Ukrainian plants—one in the Lviv region and the other in the Ivano-Frankivsk region—have continued to produce wiring harnesses, despite the challenges posted by Russia’s invasion of the country on Feb. 24.



Read 334 times Last modified on October 5, 2022