Automotive supplier Fräger will expand its production in Altenburg
The Thuringian economics minister Matthias Machnig and Dirk Fräger, General Manager of Fräger Antriebstechnik GmbH signed a reservation agreement for a plot of 4.5 ha in the industrial area "Altenburg Nord-Ost" - just opposite of the existing production site.
"Fräger's investment shows that a medium-sized automotive supplier strongly counts on the "Green Engine Thuringia" when it comes to developing modern drive technologies", Machnig said.
Fräger plans to invest at least 15 mio Euro and to create about 50 to 60 new jobs. The State Development Corporation of Thuringia (LEG) - having developed the industrial site - is about to check a rental factory concept, i.e. LEG will build the new production hall and rent it out to the company.
The expansion of the plant should be finished by mid 2013 and will then foster the opening of new international markets in Eastern Europe and Asia. So far, Fräger has been investing 26 mio Euro in Altenburg and employs round about 160 people. The Fräger Group has been based in Altenburg since 2004, since 2006 at their current site. The plant in Altenburg is the main plant for drive technologies within the Fräger Group and meanwhile sets increasingly focus on electromobility with products such as gear boxes, gear wheels as well as shaft drives and others.back