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© leoni ag Electronics Production | June 15, 2018

Leoni invests millions in new Bulgarian manufacturing plant

The German cable manufacturer will invest EUR 32 million in a new production facility in the Pleven region of northern Bulgaria. This new investment is said to create more than 2'000 new jobs.
Ralf Singmann, Head of European Production Sites at Leoni, informed Deputy Bulgarian Minister of Economy Alexander Manolev about the formal decision of the German technology group. Leoni earmarked EUR 16 million for the construction of the facility and a further EUR 16 million which will be used for machinery and equipment.

The facility in Bulgaria is expected to fulfil the orders of a German customer within the automotive sector. The company plans to start production by the end of 2018, gradually opening up new areas and increasing the capacity as well as the number of employees. By 2020, this entire process is scheduled to be completed and the plant should be fully operational.

The Ministry of Economy and Labour has been working on this project for more than a year, a press release states. "We are happy to be able to announce this positive message for the region", Alexander Manolev said.

Serbia, Ukraine and Macedonia were also considered as potential new locations.

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July 18 2018 5:55 pm V10.0.0-2