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 by the worldwide coronavirus crisis, its sales are are said to be close to the previous year. “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.”
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,” Fenkl added.