Lu-Ve invests €36m in Polish factory
ITALY: Lu-Ve is to invest €36m in an expansion of its SEST-LuVe factory in Poland.
Work is scheduled to begin this month on approximately 60,000m² of ground in the Gliwice business park where the current factory is located. The land was purchased in May for €2.4m.
The total investment of €36m will include around €18m for the construction of a 20,000m² factory, the rest on the purchase of plant and machinery.
In a statement, LuVe said: “The strategic objective of this investment is the increase and rationalisation of the productive capacity of the Group, in order to better exploit the opportunities of market growth.”
Founded in 1974, SEST is an integral part of the Lu-Ve Group and a leading European manufacturer of evaporators and condensers for refrigeration equipment.