Chinese electronics manufacturer Luxshare has acquired a 50.1% stake in German automotive cable producer Leoni AG, which operates several large-scale production facilities in Romania employing thousands of workers, Profit.ro reported.
The majority share was purchased from Austrian entrepreneur Stefan Pierer, who previously held full ownership of Leoni through his group.
The strategic transaction marks Luxshare’s entry into the European automotive cable and systems market, with access to Leoni’s global customer base and extensive manufacturing footprint, including in Eastern Europe.
“Having Luxshare as a strong strategic partner will significantly enhance Leoni’s competitiveness on all fronts – from portfolio expansion and market access to technological capabilities and production,” said Klaus Rinnerberger, Chief Executive Officer of Leoni AG.
Grace Wang, President and Chief Executive Officer of Luxshare Group, said the partnership would strengthen the company’s global reach and innovation capabilities. “By combining our strengths, we not only expand our global presence but also drive innovation and deliver greater value to our customers,” she stated.
Luxshare, based in China, is a global producer of connectors and automotive electronics and has expanded rapidly in recent years through acquisitions and joint ventures. Its partnership with Leoni positions the company to benefit from its longstanding relationships with major European carmakers and its established production network in Romania.
Leoni’s operations in Romania are among the largest in its European network, with multiple facilities in counties such as Arad, Bistrița-Năsăud, and Cluj. The company supplies wiring systems and components for leading global automotive manufacturers and is a major employer in the Romanian industrial sector.
“With Luxshare Group we have found the perfect partner to ensure Leoni’s long-term success,” said former sole owner Stefan Pierer. “Both shareholders have demonstrated how a strong business model can win new markets for a company.”
iulian@romania-insider.com
(Photo source: Facebook/Leoni Wiring Systems Bistrita)
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