Nidec Global Appliance announces the plan to invest over €50 million in the next 5 years in its Austrian site
Strengthening the cooperation between the company and the government for the growth and development of the region, Nidec GA launches an innovation program for the Fürstenfeld manufacturing plant and R&D center.
Among the main goals is energy efficiency.
September 26, 2022 – Nidec Global Appliance, a platform of Nidec Corporation, announced an investment plan of over €50 million in the next 5 years entirely dedicated to its manufacturing plant and R&D center in Fürstenfeld, Austria.
With an annual production capacity of 4 million refrigeration compressors and components for 2 million motors for washing machines, the Fürstenfeld site will be be able to implement new research and development projects, investment in production lines and improvements in its R&D Center, counting on the Austrian government’s financial support. Through cooperation with Styrian Funding Agency (SFG) and Austrian Business Agency (ABA) representatives, the company aims to consolidate its position as an industrial reference in the country by fostering innovation in the Styrian region.
Considering the current energy situation in Europe, it is worth highlighting that the major focus of the research projects is to promote energy efficiency and electronic improvements, delivering a direct positive impact on consumers and an important contribution in terms of sustainability. Indeed, compressors and motors produced at the Nidec Global Appliance plant in Fürstenfeld are the main components of a significant number of residential and commercial refrigerators and washing machines used in Europe and abroad.
“We aim to make the Fürstenfeld center, which plays a key role in Nidec Global Appliance’s strategy, an even more important innovation hub, not only within our Business Unit but throughout Austria”, says Valter Taranzano, CEO and President of Nidec Global Appliance. “In the country, we have initiated conversations with the Federal Minister for Economics and Digital Affairs and the Minister of Economy of Styria. Having the support of the government is a key element for industries to keep contributing to progress and innovation, with a positive impact not only on our business, but also on the country. A virtuous example of how this kind of cooperation leads to added value for mutual growth and development,” he completes.
“We are one among other companies that are willing to invest and promote growth in Europe, and found in Austria good conditions for that,” concludes the executive.
Since 2020, when the factory in Fürstenfeld was acquired by Nidec, the company has made an amount of approximately 9 million euros in investments, to implement new production lines and modernize the existing ones. Additionally, close to 300 new jobs have been created in that period.