Leoni Invests €80 Million in New Automotive Wiring Harness Plant in Egypt
Leoni, a global specialist in the production and export of automotive wiring harnesses, is set to invest €80 million in establishing a new manufacturing facility in Egypt. Sherif El Desouky, Chairman of the company's Board of Directors, confirmed that the project will be executed in two phases: €40 million for the first phase and the remainder for the second, with completion scheduled within three years.
Export Target of $200 Million
The renowned company, known for its expertise in automotive wiring harness production, aims to achieve exports exceeding $200 million by the end of this year, reinforcing its position as a key global supplier.
3,000 New Jobs and Expanded Production Capacity
The new plant will significantly boost Leoni's production capacity and create 3,000 jobs, bringing the company's total workforce in Egypt to 9,000 employees. This facility will be Leoni's 15th plant in the country, built on a 91,000-square-meter site—marking the first time the company owns the land, as all previous plants were on leased property.
Daily Output of 100,000 Harnesses for Export
The new plant will have the capacity to produce 100,000 wiring harnesses per day, all designated for export. Some 80% of the output will be shipped to European markets, including Germany and the Czech Republic, as well as the UK, while the remaining 20% will go to the United States, with small volumes allocated to the Chinese market.
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