[photopress:zones_leoni.jpg,full,alignright]Germany-based Leoni AG has has set up a base for the production of aviation cables in the Changzhou National New and High-tech District of Jiangsu Province. This brings it investment in the area to nearly $70 million.
As early as 1993, Leoni AG had already invested in Changzhou High-tech Zone and this has been an ongoing investment.
With the accumulated investment of nearly $70 million, Leoni has become the biggest and oldest investor in this area.
Now in the the second-phase of its engineering project, Leoni has put an additional capital of RMB33 million into the construction of the aviation cable production base.
Leoni Special Cables (Changzhou) Co. Ltd, with a registered average annual growth rate of 40% to 50%, plans to reach a sales volume of RMB1 billion in 2012.
Source: ECN Asia