Sumitomo Demag gets ?0m for modernisation
http://www.chemnet.com Jun 25,2012 Prw
In a statement Sumitomo (SHI) Demag said: "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, frmo whom the company has subsequently been renting the properties.
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.