GERMANY: Ziehl-Abegg is to boost fan and motor production with a €16m investment in an expansion of its Kupferzell factory.
The new 8,400m2 building will be created for the manufacture of energy efficient electric motors, creating 180 new jobs.
While Ziehl-Abegg has, like everyone else been affected worldwide by the corona crisis, its sales are are said to be close to the previous year. “However, a higher than average 8.6% increase in sales across the industry in 2019 provides a solid foundation,” said CEO Peter Fenkl.
“During the 2008 global economic crisis, our sales fell 17% and then increased by more than 20% in the following year,” he added.
Against this background, Ziehl-Abegg is now purposely investing on a countercyclical basis. “When the corona and resulting economic crisis is over, we will be able to hit the ground running once again.”
The post Ziehl-Abegg’s €16m production boost appeared first on Cooling Post.
source https://www.coolingpost.com/world-news/ziehl-abeggs-e16m-production-boost/
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