Germany-based Tognum AG intends to invest more than 1 billion euros by the end of 2014. About 600 million euros will go each into research and development and long-term capital expenditure.
“We intend to further pursue our growth strategy in the future and are convinced that our strategic investments will pay off,” Joachim Coers, CEO of Tognum AG, said at the copmpany’s annual press talk recently.
Tognum will invest about 140 million euros in the expansion of its plants in Europe, America and Asia. For the plant in South Carolina where Tognum assembles MTU Series 2000 and 4000 engines, the company will establish new development test facilities in several phases until 2015 for a total of 40 million euros.
The company’s annual report can be downloaded from www.tognum.com in the “investors” area.