Tognum’s €1 Billion Plans
Company anticipates growth in lower power range engines; investing in R & D, expanding facilities
Tognum announced plans to invest more than €1 billion by the end of 2014, an amount exceeding the volume that Tognum specified two years ago in a cornerstone paper together with Daimler AG and Rolls-Royce plc.
The company said approximately €600 million of the total investment will flow into research and development and long-term capital expenditure. Tognum will also invest approximately €140 million in the expansion of its plants in Europe, America and Asia between 2012 and 2014.
The company’s headquarters are in Friedrichshafen, Germany, and a new factory is currently being built for the processing of piston rods. For the coming years, a new building is also planned there with new development test facilities. In total, the planned investments in Friedrichshafen will amount to approximately €60 million between 2012 and 2014.
Furthermore, the company said it plans to invest approximately €90 million in a new plant in Stargard, Poland, out of which €42 million are to be invested by 2014 with plant construction scheduled to start in autumn this year.
For the plant in Aiken, South Carolina, U.S.A., Tognum said it will establish new development test facilities in several phases until 2015 for a total of €40 million.
In Singapore, Tognum is currently constructing a new logistics center and the company plans to move into a new building for sales, administration, development, training and workshop. These investments will total approximately €17 million between 2012 and 2014.