Wacker Neuson SE: Wacker Neuson plans to open new factory in China
DGAP-News: Wacker Neuson SE / Key word(s): Real Estate/Strategic Company Decision
Wacker Neuson plans to open new factory in China
(Munich, 22 June 2016) The Wacker Neuson Group is planning to open a new plant near Shanghai in China. Initially compact excavators will be produced for the local market, further products will follow. It is planned that the first compact excavator should roll off the production line at the beginning of 2018.
Wacker Neuson further extends its production capabilities in Asia and strengthens its local presence in China with the construction of a new production plant in Pinghu about 30 km from Shanghai. Cem Peksaglam, the chief executive officer of Wacker Neuson SE signed the corresponding contracts on site last Friday.
The decision arose from an extensive search for a location. "We have finally decided for the Pinghu location in Zhejiang Province, which best fulfills our requirements and the support of the local authorities is outstanding", according to Cem Peksaglam. "We are continuing our strategy of internationalization with this step. In the largest construction machine market in the world we underline our commitment towards our Chinese customers and trading partners", Peksaglam further stated. The strategically favorable position between the cities of Shanghai and Hangzhou as well as a good infrastructure are key advantages of the new location. Manufacturing facilities, research and development, quality management, logistics, service and training will be located on approximately 135,000 m² of ground with approximately 30,000 m² of building space. Construction is planned to start in the fall of 2016, with completion slated by the end of 2017. Initially the Chinese and later the Asian markets will be served with products tailored to the local requirements.
The Wacker Neuson Group has sold construction equipment in China for over 20 years. The product portfolio for the Chinese market was extended in 2015 to include compact equipment. An increasing need for improved infrastructure, the extension and modernization of the road and rail network while trending towards more efficient and environmentally friendly compact construction equipment offers attractive growth opportunities for the Wacker Neuson Group. A stronger presence in the country, including R&D and production will lay the groundwork to be part of the future growth and improvements in the Asia-Pacific region.
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The Wacker Neuson Group is an internationally operating group of companies with over 50 affiliates and 140 sales and service stations. As a leading manufacturer of construction equipment and compact machines, the group offers its customers world-wide a broad range of products, extensive services and an efficient spare parts supply. The Wacker Neuson Group includes the product brands Wacker Neuson, Kramer, and Weidemann. The offer of services is aimed primarily at customers from the main construction industry, gardening and landscaping, agriculture, municipalities, the recycling and energy industries as well as at railway companies and industrial companies. In 2015, the group achieved revenue of EUR 1.38 billion and employed over 4,600 people world-wide.
|Company:||Wacker Neuson SE|
|Phone:||+49 - (0)89 - 354 02 - 0|
|Fax:||+49 - (0)89 - 354 02 - 390|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart|
|End of News||DGAP News Service|