Thyssenkrupp Presta Ilsenburg invests 16.6 million Euros and creates 67 new jobs

Minister for Economic Affairs Willingmann awards grant

The company Thyssenkrupp Presta Ilsenburg GmbH is one of the most successful manufacturers of camshafts and eccentric shafts for internal combustion engines. With the support of the Ministry of Economic Affairs of Saxony-Anhalt, the company is adapting to the changes in the automotive industry: the production of rotor shafts for electric cars at the Ilsenburg location is scheduled to start before the end of this year. In this respect, Thyssenkrupp is investing a total of 16.6 million Euros in a new production hall, including plant and machinery, and creating 67 new jobs.

On Thursday, Minister for Economic Affairs Prof. Dr. Armin Willingmann officially awarded a grant for approximately 1.7 million Euros which will be used to support the expansion of production at the federal state level. "With more than 2,000 employees (thyssenkrupp Presta Ilsenburg; Valvetrain and Schönebeck), Thyssenkrupp is one of our biggest employers and of structural importance to the federal state," the Minister emphasized. "I am exceptionally pleased that this company is adapting to the changes in the automotive industry in good time, entering into new fields of business and investing in the technologies of the future. I expressly support these investments because they sustainably secure jobs and create new ones."

According to Frank Berends, Managing Director of thyssenkrupp Presta Ilsenburg GmbH, “By initiating the production of the rotor shaft here at the Ilsenburg location, we have succeeded in entering into a new market segment respectively the new technology of electric mobility.” Michael Kittel, his colleague in the senior management team, added: "Furthermore, with the support of the federal state, we are acquiring important manufacturing skills so as to secure jobs in the future on the basis of forward-looking projects.”

The initiation of rotor shaft production isn’t the first project to be supported by the Ministry for Economic Affairs. In recent years, the company has been awarded ten grants with a total value of 54.05 million Euros, and the company has initiated investments with a value of approximately

286.5 million Euros, thereby creating 717 jobs with the support of the funding projects.

With some 23,000 employees in approximately 260 companies, the automotive supplier industry is one of the most important industries in the federal state. "The shift to electric mobility is presenting many of our companies with major challenges. To remain competitive, it is necessary for them to invest in future technologies in good time and adapt their product range," explained Willingmann. "Over the coming years, the Ministry of Economic Affairs is to support companies in the sector with its funding instruments so that they can rise to the structural challenges. The task is to secure jobs and create new ones."