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Schaltbau Holding AG: Bavaria's Minister of Economic Affairs Hubert Aiwanger visits Schaltbau plant in Velden

Wed, 22 Jul 2020 00:00:00


DGAP-News: Schaltbau Holding AG: Bavaria's Minister of Economic Affairs Hubert Aiwanger visits Schaltbau plant in Velden

DGAP-News: Schaltbau Holding AG / Key word(s): Miscellaneous
22.07.2020 / 18:52
The issuer is solely responsible for the content of this announcement.

Schaltbau Holding AG: Bavaria's Minister of Economic Affairs Hubert Aiwanger visits Schaltbau plant in Velden

Munich, 22 July 2020 - Today, Hubert Aiwanger, the Bavarian Minister for Economic Affairs, Regional Development and Energy, visited the Schaltbau production plant in Velden in the Bavarian district of Landshut. Together with Peter Dreier, Commissioner of the District of Landshut, and Ludwig Greimel, Mayor of Velden, the minister took the opportunity to gain a first-hand impression of 90 years of innovative strength at the premises of this medium-sized enterprise in the technology location of Lower Bavaria.

"As Minister of Economic Affairs, I very much welcome the company's readiness to invest here in Bavaria," said Minister of State Hubert Aiwanger. "The decision is clear affirmation of the attractiveness of our state, including its rural regions. We are very keen to see the Schaltbau Group developing innovative products. They show us the direction the transformation of the Bavarian economy can take. We also have funding available for research and development in the high-tech fields of future-oriented markets such as renewable energy and electric mobility. I am particularly pleased that the planned new facility will pave the way for carbon-free production going forward."

The Schaltbau GmbH production plant in Velden, a key employer in the region with a staff of around 300 people, manufactures electromechanical components such as contactors, switches and connectors for rail technology and a host of industrial applications. The plant uses highly flexible, state-of-the-art production lines to individually produce high-volume series that meet a broad range of customer requirements. Sustained positive momentum in terms of business development and Schaltbau's strategic focus on the growth markets of New Energy and E-Mobility have increased the need for investment at the Velden plant.

"We are delighted about the level of interest our company has generated in the world of politics. Although we operate on global markets, Bavaria is our key business location and will always remain our entrepreneurial home base. Here at our plant in Velden, over 45 engineers work in our DC testing laboratory to develop high-performance, leading-edge electromechanical components for customers worldwide," says Dirk Konrad, Managing Director of Schaltbau GmbH. "With our latest generation of contactors for DC applications, which are manufactured here in Lower Bavaria, we play a significant part in providing technological and functional safety for the future-oriented markets of New Energy and E-Mobility."

Schaltbau components are deployed worldwide in all types of industries, wherever electrical currents need to be safely connected, switched and controlled in rugged conditions. Schaltbau systems are designed to protect applications in the fields of industry, renewable energy, e-mobility and automation and also ensure that railway systems can operate with a high level of safety.

 

 

About the Schaltbau Group
Schaltbau Holding AG (ISIN: DE000A2NBTL2) is listed in the Prime Standard segment of the regulated market of Deutsche Börse AG in Frankfurt am Main. With annual Group revenue in the region of EUR 500 million and around 3,000 employees, Schaltbau is an internationally leading supplier of systems and components in the field of transportation technology and the capital goods industry. With Schaltbau, Bode, Pintsch and SBRS as their core brands, Schaltbau Group companies develop a wide range of high-quality technologies and customer-specific technological solutions for rolling stock, rail infrastructure, road vehicles and commercial vehicles. As one of the few specialists for smart DC energy concepts, the Schaltbau Group is also a technology partner and driver of innovation for the fast-growing markets of tomorrow such as New Mobility, New Energy and New Industry.
To find out more about the Schaltbau Group, go to: https://schaltbaugroup.com



Contact:
Dr. Kai Holtmann
Head of Investor Relations & Corporate Communications
Schaltbau Holding AG
Hollerithstrasse 5
81829 Munich
Germany
P +49 89 93005-209
investor@schaltbau.de


22.07.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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