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Electronics Production | February 12, 2008

Leoni gains major contract in Switzerland

The Swiss cable manufacturer Leoni Studer, a member of the Leoni Group, has gained its largest ever contract. The company also sees bright on sales in 2008.

The Däniken-based company has been contracted to supply the cable for the railway engineering in the new Gotthard Base Tunnel. This huge construction project will start in mid 2008. Leoni Studer expects to generate sales amounting to approximately EUR 74 million over the project’s duration of about six years. World’s longest railway tunnel stretching 57 kilometres will significantly improve travel and transport options across the Alps and is projected to go into operation in 2017. Leoni Group’s sale is also driven by electronic equipment and electrical wiring systems from automotive OEM customers such as BMW and VW. Leoni sales increased in 2007 by 12 percent to EUR 2.37 billion. Net profit increased by 9 percent to EUR 86.2 million. For 2008, Leoni expects sales of at EUR 3 billion minimum. That also includes EUR 600 million from the newly acquired Valeo Connective Systems.
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