Leoni AG Is Investing In The Construction of a New Car Cable Production Facility in Serbia

An agreement on the construction of a new facility by the Leoni Company was signed in Nis, Serbia. The agreement stipulates Leoni AG investing in the construction of a new car cable production facility in Nis, worth 22 million EUR, and the creation of 2,200 new jobs.

– The foundation stone will be officially laid in December, and the company will begin to operate next August – said Prime Minister Aleksandar Vucic and added that the Government of Serbia intends to invest in all corners of Serbia equally.

Leoni AG is one of the global leaders in the production of car cable installations. In 2015, it had around 75,000 workers in 92 production facilities.

The company has generated the revenue of 4.5 billion EUR in 32 countries, with a profit of 77.3 million EUR.

Leoni is one of the companies to get state subsidies for new jobs, namely the Serbian government has giventhe company 31 million EUR to date through various subsidies. The company has been operating in Serbia since 2009 and it has facilities in Prokuplje and Doljevac.

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