Ravicab Cables Private Limited announces acquisition of Leoni Cable Solution IndiaPrivate Limited(LCSI), Pune, a fully owned subsidiary of Leoni AG – EQ Mag Pro
Ravicab Cables Private Limited announces acquisition of Leoni Cable Solution IndiaPrivate Limited(LCSI), Pune, a fully owned subsidiary of Leoni AG.The acquisition of LCSI by Ravicab provides an expansion in market reach, extension in Product range and finds a perfect synergy with the growth aspirations of Ravicab,for the acquired business, this means a clear perspective for future development in terms of investment and growth.
LCSI has a turnover of 24.5 M€ in 2021. With this acquisition Ravicab has a strong foothold in the important Project business in the western part of India. Ravicab with acquisition of LCSI also has a leverage in specialty products business of Renewable energy and Railways.Ravicab, has also inherited LCSI’sprocesses and systems for manufacturing specialized cables,andiconic brandslike “Kerpen”and “Icon”
Announcing this, Mr. HemantK Mehta, Managing Director, Ravicab Cables Private Limited, said, theagreement with Leoni AG to purchase the shares of Leoni Cable Solutions India Private Limited(LCSI) is beneficial to all stakeholders and reflects Ravicab’s strongaspiration to further strengthen its market position.It’s a great opportunity for Ravicab to be able to acquire a unit set up with best-in-classinfrastructure with best available machinery and major approvals in place to expand the business at high growth rates”
For the Wiring Cable Solution (WCS)units put up for sale due to our strategic focus on the automotive industry it has always been our goal to find investors, who want to strategically develop the products and services. I am confident that we have succeeded in doing so with Ravicab.”saidJerry Cummins,WCS Top Management, Leoni WCS
About LEONI AG:
LEONI is a global provider of products, solutions and services for energy and data management in the automotive industry. The market-listed group of companies has around 100,000 employees in 28 countries and generated consolidated sales of EUR 5.1 billion in 2021.LEONI group has more than 100 years of experience in designing of cables.
