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Engel unveils fourth German subsidiary

By: PLASTICS & RUBBER WEEKLY

April 26, 2013

WURMBERG, GERMANY – Engel Holding GmbH, the Austrian-headquartered injection molding machine maker, has opened its fourth subsidiary in Germany at a cost of around 5 million euros ($6.5 million).

The new facility at Wurmberg, near Stuttgart, houses sales and service activities and is staffed by 22 employees, according to the company.

Opening the new office last week, CEO Peter Neumann said Germany was the company's most import market, generating around a quarter of its 834 million euros ($1.086 billion) in annual global sales.

"In the last few years we have continuously increased our market share in Germany. Our investment in South Germany sees us do justice to this growth," he added.

Engel said it would seek to grow the Wurmberg facility in the mid-term.