Electronics Production |
Leoni to acquire 90.2 % of the<br>shares in FiberTech
Leoni is further expanding its activity in the high-growth market for fiber optics. Effective the end of November 2007, Leoni will acquire 90.2 percent of the shares in German bsed FiberTech GmbH.
By acquiring FiberTech, Leoni continues to consistently pursue its strategy of strengthening its business in profitable, technologically sophisticated niche markets. The Fiber Optics unit will now be able to offer a product range to cover widely differing applications along each link in the value chain: from the fiber to the cables and the related components, and through to designing and setting up glass fiber cable networks.
By acquiring FiberTech, the Group will extend its technological expertise in the field of special fibers. In the medical equipment sector, FiberTech makes special probes for laser medical technology. In addition its products are used in the materials processing industry, in defence and aviation engineering as well as in biotechnology and astrophysics. FiberTech will, with about 50 employees, probably generate sales of approximately EUR 4.5 million in the 2007 financial year.
