Ravicab Cables has announced acquisition of Leoni Cable Solution India (LCSI), Pune, a fully owned subsidiary of Leoni AG. The acquisition of LCSI by Ravicab provides an expansion in market reach, extension in Product range and finds a perfect synergy with the growth aspirations of Ravicab, for the acquired business, this means a clear perspective for future development in terms of investment and growth. LCSI has a turnover of 24.5 M€ in 2021.
With this acquisition Ravicab has strengthened its foothold in the important Project business in the western part of India. Acquisition of LCSI also provides a leverage in specialty products business of Renewable energy and Railways. Ravicab, has also inherited LCSI’s processes and systems for manufacturing specialized cables, and iconic brands like “Kerpen” and “Icon”.
Announcing this, Mr. Hemant K Mehta, Managing Director, Ravicab Cables Private Limited, said, the agreement with Leoni AG to purchase the shares of Leoni Cable Solutions India Private Limited (LCSI) is beneficial to all stakeholders and reflects Ravicab’s strong aspiration to further strengthen its market position. It’s a great opportunity for Ravicab to be able to acquire a unit set up with best-in-class infrastructure, with best available machinery and major approvals in place to expand the business at high growth rates”
For the Wiring Cable Solution (WCS) units put up for sale due to our strategic focus on the automotive industry it has always been our goal to find investors, who want to strategically develop the products and services. I am confident that we have succeeded in doing so with Ravicab.” said Jerry Cummins, WCS Top Management, Leoni WCS
About LEONI AG:
LEONI is a global provider of products, solutions and services for energy and data management in the automotive industry. The market-listed group of companies has around 100,000 employees in 28 countries and generated consolidated sales of EUR 5.1 billion in 2021. LEONI group has more than 100 years of experience in designing of cables.
About Ravicab Cables Private Limited:
Ravicab Cables Private Limited is a specialized cable manufacturer with its operations based out of Bengaluru, India. It was established as “Ravicab India” in 1986 and later converted to a Private Limited company in 1996. It is an ISO 9001 – 2015 certified company engaging in manufacturing, marketing, and distribution of wires & cables for domestic, industrial, signalling applications, and specialty markets. Ravicab is resourced with 2 state-of-the-art manufacturing facilities spread over 1.2 lakh sq. ft. and a modern laboratory equipped to perform all necessary tests as per national and international standards.
About LEONI Cable Solution India Private Limited (LCSI):
Leoni India with production plant at Chakan Pune, this state of the art facility has an employee strength of 190 people consisting of on role and contract employees. Under the “Make in India” policy, LEONI India serves local customers and drives globalization by indigenizing its product portfolio and manufacturing capabilities. In July 2018, LEONI India got the AERB approval for state of art electron beam cross linking machinery equipped facility operational since August 2018 to cater to the latest generation of very robust and durable cables for solar and railway applications which ensure a higher degree of safety, superior performance and greater efficiency. The e-beam process makes cables more dimensionally stable when subjected to heat, more resistant to chemicals, solvents and temperature fluctuation as well as harder and more resistant to abrasion.