Investments in the double-digit million euro range / Plant opening in China
German automotive supplier Poppe-Veritas (Gelnhausen; www.veritas.ag) has announced investments amounting to EUR 42m for 2017. As part of its "Strategy 21+” programme, EUR 6m is being invested in the modernisation of its site in Gelnhausen, including for fuel tank fillers and compressed natural gas (CNG) technology.

The company is opening a plant in Kunshan, Jiangsu / China for blow moulding charge-air ducts, thereby expanding capacity at its site there. A company spokesperson informed Plasteurope.com that the first line of products are to be produced in Kunshan in September or October 2017. Investments totalling some EUR 11m are planned for China in 2017.

The group plans for its production in China to contribute to around 20% of sales in coming years. Board spokesperson, Lucie Toscani, said, “If we wish to play a part in our customers’ global platform concepts, we are going to have to expand our presence in China still further. Apart from that, however, we also see a big opportunity to gain new customers for Poppe-Veritas on the Chinese market." Poppe-Veritas has already managed to generate new orders worth EUR 60m in the country in 2017.

Following on from its restructuring measures from 2014 - 2017, the sealing, fluid and thermal-management systems specialist is now going through a consolidation phase. Group sales in 2016 were at EUR 654m, which was down on the previous year (EUR 684m). Considering the new orders being received, the group is expecting this figure to increase. In 2016, new orders went up 9.6% to EUR 562m (2015: 513m), and new orders totalling EUR 570m have already been generated in the first half of 2017.
11.08.2017 Plasteurope.com [237534-0]
Published on 11.08.2017
German version...German version of this article...
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