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Sumitomo Demag gets €20m for modernisation

10/07/2012


Sumitomo Heavy Industries of Japan says it is investing €20m in the facilities of Sumitomo (SHI) Demag Plastics Machinery in Schwaig and Wiehe in Germany. The investment will allow the company to modernise production systems for injection moulding machines.
Sumitomo (SHI) Demag said in a news release: “The main item in the most recent investment concerns buying back the property and buildings of the sales and works site in Schwaig. In addition, investments are being made in new processing machines as well as modernisation of production facilities.”
Explaining the background to the property buy-back, the company said Demag’s previous owner Madison Capital Partners had sold the properties to the real estate company Segro in 2008. Since then, the company has been renting the properties from Segro.
The company said: “With this investment, Sumitomo Heavy Industries is acknowledging the growing market share captured by Sumitomo (SHI) Demag over recent quarters. The buy-back of the production site underlines the high level of confidence placed in Germany as a production location.”
The main Demag facility in Schwaig produces its hydraulic Systec machines and hybrid El-Exis machines.
In 2009, after Sumitomo Heavy Industries acquired Demag, the Wiehe facility was expanded to become an international centre of competence for electric machines. Wiehe supplies the IntElect series of electric injection moulding machines to worldwide customers.

Plastics.ru

     








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