Leoni, said in a press release last week it is further expanding its activity in the high-growth market for fiber optics. Effective the end of November 2007, Leoni will acquire 90.2 percent of the shares in FiberTech GmbH. The Berlin-based company is among Europe’s leading providers of high-quality special glass fibers and complete fiber optic systems for laser beam transmission. These products are used, among other areas, in medical equipment as well as in industrial applications. By acquiring this fiber specialist, Leoni continues to consistently pursue its strategy of strengthening its business in profitable, technologically sophisticated niche markets. The Fiber Optics unit will now be able to offer a unique product range to cover widely differing applications along each link in the value chain: from the fiber to the cables and the related components, and through to designing and setting up glass fiber cable networks.
By acquiring FiberTech, the Group will extend its technological expertise in the field of special fibers. In the medical equipment sector, FiberTech makes special probes for laser medical technology. In addition, its technologically sophisticated products are used in the materials processing industry, in defence and aviation engineering as well as in biotechnology and astrophysics. Along with an outstanding competitive position in Europe, the company, founded in 1995, also has access to the US market and with the required FDA approval for medical products. FiberTech will, with about 50 employees, probably generate sales of approximately EUR 4.5 million in the 2007 financial year.
