Spanish automobile components maker Cie Automotive will spend €9 million this year to boost forged-crankshaft production for diesel engines at its GSB Galfor plant in Galicia, Spain.
The Basque group plans to make 1.9 million diesel crankshafts by mid 2006, up from 750,000 this year, a company spokesman confirmed.
With the output hike, Cie expects to meet rising demand for diesel engines in Spain and Europe, as big clients such as Renault, Volkswagen and Audi incorporate them into new car models.
With 350 workers, the GSB plant makes a diverse set of forged components such as axises and semi-axises, but now “we are going to become more specialised in forged crankshafts,” the spokesman said.
Cie will also spend part of the €9 million in Research & Development (R&D) initiatives.
With 30 operating companies in Europe and Latin America, the Cie group delivered revenues of €571 million in 2003. It employs 5,500 people worldwide.