Leoni

German cable systems manufacturer Leoni warned that it would not reach its profit target set just a month ago. In addition, the company plans to cut 2,000 people. "The company faces a challenging environment in the markets, especially in China," Leoni said, adding that orders from car manufacturers dropped significantly.

NIS - An agreement to build a new plant of German auto parts maker Leoni was signed in Nis Tuesday at a ceremony attended by PM Aleksandar Vucic.

The 22 mln euro deal, which will create 2,200 jobs, was signed by Minister of Economy Goran Knezevic and Leoni Director Clemens Sachs.