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Show of confidence: German giant to boost development of Basque subsidiary
 

One of Germany’s major industrial concerns, the Rheinmetall group, with 28,000 employees distributed all over the world and turnover of 4.6 billion euros, has announced plans to invest in the technological development of Basque firm Carbureibar, in Abadiño. From 2005 on, Carbureibar will be producing five million cutting-edge exhaust pipe gas recirculation valves a year for car engines.

Unlike the present electrical valve, the new one will be electronic and will adapt to the latest round of environmental regulations.

Rheinmetall chairman Klaus Eberhardt yesterday emphasised his group’s confidence in Carbureibar and assured that it would continue to make products of a high technological level.

Eberhardt also hinted that the Basque firm would shortly be involved in a process of “expansion”, although he preferred not to give further details for the moment in view of what he described as the “delicate” international economic situation. Eberhardt was speaking at a reception at the Rheinmetall headquarters for the Basque delegation headed by regional president Juan José Ibarreche and regional Industry minister Josu Jon Imaz, currently on a visit to the North Rhine land in Westphalia.

Besides assuring the business future of the company for the next few years, production at Carbureibar is likely to account for 70 per cent of the entire European market. Carbureibar general manager Javier Egurrola said yesterday that the company had made major investments in the last few years and that the workforce had increased by 20 per cent in just two years, from 249 employees to the current total of 303. Both the investments and the increase in the workforce would ensure the company had the capability to handle the new project successfully.

The chairman of Rheinmetall also underlined the importance of the Basque firm’s role as one of the twenty automotive-related plants it possesses outside Germany. “In ten years”, said Eberhardt, “turnover has increased 900 per cent and 80 per cent of the components it produces go for export.” Last year the Basque firm registered turnover of 131 million euros and its clients included major carmaker groups such as Audi, Volkswagen, BMW, Renault, Opel, Ford and Daimler-Chrysler.


 

Summary of a news item published in El Diario Vasco,  27  March, 2003

Fecha de la última modificación: 28/03/2003