GEA (dpa-AFX) - GEA Group Aktiengesellschaft, (G1A.DE), a company manufacturing machines and plants for the food, beverages and pharmaceutical sector, on Thursday, said that it will invest around 50 million euros in its German centrifuge production facilities in Oelde (NorthRhine-Westphalia) and Niederahr (Rhineland-Palatinate) by the end of 2024.
This investment will modernize the production facilities in Oelde and Niederahr. It will also enable further growth to important GES industries like food, beverages and pharmaceuticals.
GEA centrifuges are used in more than 3500 different processes in a wide range of industries.
'This year, we look back with pride at 130 successful years in separation technology. With the investments announced today, we are future-proofing our sites by producing in an even more climate-friendly, efficient and modern way. As a result, we strengthen the competitiveness of both of these German sites,' commented Stefan Klebert, GEA CEO
Currently the shares of GEA are trading at 40.18 euros up by 60% or 0.24 euros on the Xetra Stock exchange.
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