Luxshare, a Chinese electronic components manufacturer, has agreed that it will acquire a 50.1% stake in LEONI AG, a cable and harnessing manufacturing firm in Germany, which was previously fully owned by Pierer.

Oct 25, 2024

Austrian entrepreneur Stefan Pierer and Luxshare, a Chinese electronic components manufacturer, have agreed that Luxshare will acquire a 50.1% stake in LEONI AG, an international firm under LEONI Group. Strategic partnership established between LUXSHARE and Stefan Pierer for LEONI’s Wiring Systems Division (WSD), while Luxshare’s subsidiary TIME Interconnect Singapore will acquire the Automotive Cable Solutions (ACS) division from LEONI AG.

Talking about the new development, Klaus Rinnerberger, CEO of LEONI AG, said, “Having Luxshare as a strong strategic partner will significantly enhance LEONI’s competitiveness across all fronts – from portfolio expansion and market access to technological capabilities and production.”

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Grace Wang, Chairman and CEO of LuxshareGroup, added, “We are excited about the potential of this partnership. By combining our strengths, we will not only expand our global footprint but also drive innovation and deliver greater value to our customers.”

LEONI’s strong connections with the European and American automotive industries, combined with LUXSHARE’s presence in China, will create a robust global platform, enabling both companies to maximize their market potential. Luxshare’s expertise in connectors and electronics will further enhance LEONI WSD’s ability to provide integrated solutions, benefiting its customers. In return, Luxshare will leverage LEONI’s extensive knowledge and leadership in the wiring systems business.

LEONI’s operational strengths in Eastern Europe, North Africa, and the Americas, alongside Luxshare’s extensive production capabilities in China and Vietnam, will enable both partners to meet regional customer needs with flexibility while maintaining global competitiveness.

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This partnership will also accelerate LEONI Group’s financial stabilization, reinforcing the progress achieved over the past year.

With Luxshare, we have found the perfect partner to secure LEONI’s long-term success. Both shareholders have demonstrated how a strong business model can propel a company into new markets.This collaboration marks a pivotal step in our journey towards becoming a global leader in the sector,” said Grace Wang.