2009
LEONI launches an extensive cost reduction programme because of the global economic and financial crisis. Material and personnel expenses are trimmed throughout the Group, capital investment projects are cut back and acquisition plans are shelved. The Company sheds 9,000 jobs within the space of a few months.
LEONI establishes a new distribution company in the Netherlands for the wire and cable business. At the same time, the French automotive group PSA awards LEONI its EcoTech prize for commitment in terms of cost efficiency. Furthermore, LEONI receives the Porsche Supplier Award for the fifth time, with which the sports carmaker commends the quality, flexibility, efficiency and customer service of its best suppliers.
LEONI Wiring Systems wins a first contract to supply wiring systems for the Nissan X-Trail from Japan and is rated among the best suppliers to the Russian commercial vehicle manufacturer Kamaz.
The Supervisory Board before term extends the contracts of Management Board members Dr Klaus Probst and Mr Dieter Bellé by a further five years. Previously, Mr Uwe H. Lamann’s contract was already extended to the end of 2012.
At a price of € 14.50 per share, LEONI sells 2.9 million treasury shares that the Company purchased at an average price of € 9.79 under a buy-back programme in 2008. LEONI thereby strengthened its equity base and reduced its net debt.
