SCHWERTBERG, AUSTRIA (March 23, 12:30 p.m. ET) — Austrian injection molding machinery producer has announced a 12 million euro ($15.8 million) expansion at its headquarters in Schwertberg. The company it is making investment because of increasing order volumes for its machinery from around the world.
The company says the investment will lead to improved working conditions and demonstrates a clear commitment to its Austrian plants. Two-thirds of Engel's 3,900 worldwide employees are based at three Engel plants in Austria.
The company produces injection molding machines in clamping forces up to 500 metric tons at the Schwertberg location, which also houses central administration, technical and development activities. The other two plants in Austria are the large machine plant in Sankt Valentin, producing machines with clamping forces between 500 and 5,500 metric tons, and the automation plant in Dietach.
The bulk of the expansion involves constructing additional despatch, incoming goods and storage facilities on 1.5 acres of land to the south of the existing Schwertberg site, close to the Schwertberg railway station. Building work for the expansion will be completed by the end of 2012.
Engel Holding CEO Peter Neumann says the investment will result in “optimization of internal procedures and a large improvement in working conditions in the logistics department.” The number of loading and unloading stations will be increased.