SMS Meer, a company of the SMS group, will be investing around EUR 60 million in the expansion of its Monchengladbach site by 2015.

Dr Joachim Schonbeck president & CEO of SMS Meer said that "We are increasing productivity, reducing delivery times and thereby safeguarding jobs at the site over the long term."

The modernization of the machinery will reduce unit costs considerably, while shortening lead times at the same time. The expansion of the heavy equipment bay will further improve production processes, in particular.

Dr Schonbeck said that "Overall we will be able to improve our ability to deliver considerably and can offer our customers an even better service."

Extensive training measures and the modernization of the workshop will ensure that staff can operate the machinery perfectly right from the outset.

While other companies are shifting production completely to Asia, SMS Meer is clearly demonstrating its belief in Germany as a production location.

Dr Schonbeck said that "Germany as a location offers benefits, particularly thanks to our committed, well-trained employees. If we can retain our place at the top here, then Germany, too, still has a good future in front of it as a production location."

The investment is not linked to a reduction in the workforce. The SMS Meer Business Area employs 3,000 staff worldwide, with 1,400 in Monchengladbach.