Automotive supplier Leoni (Nuremberg / Germany; www.leoni.com) has officially brought a new plant online in Kraljevo / Serbia. The specialist for cable and wiring systems has invested more than EUR 50m in the location with a floor area of over 60,000 m² – 45,000 m² of which are for production.

The fourth and largest production facility operated by the company in the country is expected to reach full capacity by the end of 2023, when it is expected to have 5,000 employees. Leoni reports that this strengthens their position as a supplier for the international automotive industry, adding that the company will also become the largest private industrial employer in Serbia. The German company is also building a second manufacturing facility in Kragujevac / Serbia with China’s Yanfeng Automotive Interiors (see Plasteurope.com of 17.09.2021).

Even though the rest of 2021 will feature ongoing risks from the pandemic, supply chain and logistical problems, Leoni has raised its revenue and earnings forecast for the full year to at least EUR 5 bn sales and an EBIT before special effects of at least EUR 100m (see Plasteurope.com of 09.08.2021).