Government to Provide Funding for CeramTec Construction Project
CeramTec Group recently announced that the government of Upper Franconia is providing €11.5 million (~ $15.2 million) in funding for the expansion of the company’s site in the Upper Franconian town of Marktredwitz, Germany.
“Companies like CeramTec are very important for the structural change of the region,” said Martin Zeil, Bavaria’s Minister of Economic Affairs.
“We greatly appreciate this support from the Bavarian state. This shows once more how important CeramTec is to the economy of the region,” said Sigurd Adler, managing director, CeramTec.
Investments totaling around €80 million (~$106 million) are expected to flow into the existing plant in Marktredwitz by 2015. The Upper Franconian government’s investment will be used to build the new production building for the Medical Products division. The site will house a new production hall that will commission the production lines to manufacture ceramic components for hip joint implants as early as the end of 2014. By the end of 2015, further investments are expected to be used on the Electronic Applications and Chemical Applications divisions, which are also located in Marktredwitz. The aim is to build capacities for new technologies in manufacturing substrates for LED lighting technology and to stimulate the development of new products.
For additional information, visit www.ceramtec.com.