According to foreign media reports, in order to reorganize the company's structure on a larger scale, Leoni CEO Aldo Kamper revealed that the company is considering selling or listing its wire and cable business.
Leoni said that the Harness Systems division, which was spun off from the Cable Products Solutions business, may go public or be partially sold. Its cable product solutions business supplies products to the medical, factory automation, transportation, and automotive markets. Kamper said on Wednesday (July 10): "We need to obtain funds to invest in the wiring harness system division, and by doing so, we will also give ourselves new financing opportunities."
Leoni said that the company hopes to expand its product lineup of wiring harness systems business, so as to gain more business share in the automotive industry, especially in the field of energy and data management. In addition, Leoni hopes to be able to provide engineering, design and simulation services.
After lowering its 2018 target, Lenny appointed Kamper as its CEO in September 2018. In March of this year, Kamper gave up the company's 2019 profit target and announced layoffs, saying that the company's chief financial officer will step down. Reuters reported in December that Indian automotive wire maker Motherson Sumi Systems Ltd was in talks to merge with Leni.