June 12, 2018 / 12:12 PM / 2 years ago

German car parts maker Leoni to invest $38 mln in new plant in Bulgaria

SOFIA, June 12 (Reuters) - German automotive cable supplier Leoni plans to open a plant in northern Bulgaria and create 2,000 jobs, a senior Leoni official said on Tuesday.

The company, which operates in 31 countries and is the biggest supplier of wiring systems in Europe, will invest 32 million euros ($37.70 million) in the new facility, Ralf Singmann, Leoni’s Head Plant Manager for Europe, told reporters.

The plant should start operating by the end of the year and become fully operational in 2020, Singmann added.

The car part business has been growing fast in Bulgaria, with 170 companies producing cables, electronics, wipers and fabrics for major car producers, employing more than 40,000 people and creating over 4 percent of national output.

$1 = 0.8488 euros Reporting by Tsvetelia Tsolova, editing by Louise Heavens

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