2008
LEONI acquires the wiring harness division of the French automotive supplier Valeo at the start of the year, thereby realizing the most important acquisition in the company’s history. Together with the renamed LEONI Wiring Systems France group, LEONI becomes the European market leader and fourth-biggest supplier of wiring systems for the automotive industry in the world.
With the cabling of the Gotthard Base Tunnel, the company receives a major contract for energy supply and safety cables for the longest rail tunnel in the world. This proves LEONI’s expertise for specialized infrastructure projects.
LEONI taps the vehicle market in Korea with its share in the wiring manufacturer Daekyeung. We are initially acquiring 50 percent of the Korean partner’s interest, thereby improving our starting position in the fifth most important automotive market in the world.
With a major contract from Airbus Industries, LEONI gains an important customer who represents our way into the aerospace market. Our company is commissioned to supply cable harnesses for various assemblies in the Airbus A318 to A340 families.
The Management Board uses the low share price level in Fall 2008 to start a share buy-back program under which up to 10 percent of the company’s own stocks will be purchased. They are to be used as acquisition currency. Chief Financial Officer Dieter Bellé is chosen as “CFO of the Year” by the magazine “Finance” for innovation, strategy and leadership work.
LEONI makes a promising entry into the Russian vehicle market with the acquisition of the international wiring systems division of the automotive supplier Itelma and the supply of 40 percent of the cable requirement to utility vehicle producer KAMAZ.
