NewswireToday - /newswire/ -
Heidenheim, Baden-Wuerttemberg, Germany, 2014/03/31 - Voith is investing EUR 25 million in the construction of a new plant for rail vehicle components in Shanghai. The ceremonial groundbreaking is planned to take place in December 2014 - Voith.com. FSE: VO2A
Production is expected to start in spring 2016. The new production line will encompass an area of 10,000 square meters.
With the new production plant, Voith will develop even stronger ties as a local company in China and ensure higher local value creation. "We are moving closer to our customers and will therefore reinforce and further expand our position in the Chinese market," explains Carsten Reinhardt, Member of the Management Board of Voith GmbH and CEO of the Management Board of the Group Division Voith Turbo.
The opening of the new plant is meant to boost the step-by-step expansion of rail vehicle component production in China for the Asia-Pacific region. In addition, Voith will set up an engineering center to develop and adapt components on site to meet local customer requirements.
Voith Turbo already has assembly and production sites for rail and commercial vehicle drive components, which was opened in 2007 at the Xinzhuang Industrial Park in the Minhang District of Shanghai. The Group Division also holds a 50-percent stake in two joint ventures: the gear unit manufacturer Voith Lutong Urban Rail Gearbox Technology in Changchun and the Scharfenberg coupler producer Voith Schaku KTK Coupler Technology in Shanghai.
Asia is one of the most important growth markets for Voith. The company generates a substantial proportion of its sales from this region, especially in China, and the trend is growing. The market for high-speed and regional trains, as well as the expansion of metro and tram systems in the sprawling megacities hold significant growth potential in China and the Asia-Pacific region. In the interim this trend goes hand in hand with an ever increasing demand for qualified service, which will open up new market perspectives for Voith.
Voith Turbo, a Group Division of Voith GmbH, is a specialist for intelligent drive solutions. Customers from highly diverse industries such as oil and gas, energy, mining and metal processing, ship technology, rail and commercial vehicles rely on advanced technologies from Voith Turbo.
Voith (voith.com) sets standards in the markets energy, oil & gas, paper, raw materials and transportation & automotive. Founded in 1867, Voith employs more than 43,000 people, generates €5.7 billion in sales, operates in about 50 countries around the world and is today one of the biggest family-owned companies in Europe.