GERMANY: Brose to expand operations in Bamberg
Bamberg is the new location for the future expansion of the Brose Group.
A purchase agreement initially for 75,000 sq m of land between the Berlin ring road and Memmelsdorfer Strasse was signed on 25 May and the deak includes an option to acquire more land.
Current plans foresee the construction of various office and production buildings in three stages. Some 500 employees will begin working in the first building as from 2014. Final completion of the development will create 1,200 jobs and investments are to exceed EUR200m (US$2.5m).
"We hope to strengthen the sustainability of our company in one of Germany's most attractive towns with this strategic site decision," said Michael Stoschek, chairman of the Brose Group.