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Palfinger to invest €40m

Palfinger is using a government supported investment funding to invest around €40 million in up to 10 different projects.

Depending on the type of investment, Austria’s Wirtschaftsservice grants a subsidy of seven or 14 percent of the total investment sum to add to that invested by the company. Since September the organisation has received around 58,000 applications with a total investment volume of almost €22 billion, around €2.4 billion has already been allocated. Project claims can still be submitted until the end of February, with projects then implemented within 12 months.
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The announcement was made at a press conference with (L-R) Andreas Klauser of Palfinger, federal economics minister Margarete Schramböck, state governor Thomas Stelzer and Hubert Palfinger

One key project is the €3.7 million investment in a large new training centre - the Palfinger Campus - at its Lengau manufacturing base. The project will include the addition of 200 new apprenticeships with a heavy focus on digital and software development as well as ‘Industry 4.0’.
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The Palfinger Campus will be built at the Lengau facility - north of Salzburg

Chief executive Andreas Klauser said: "We are bundling these investments into a large, effective package of measures in order to come out of the crisis powerfully and master the challenges of the future well prepared. We planned these investments before the crisis, but the investment bonus enables us to now implement more projects faster. This means an immediate economic stimulus for the region when the work begins in February 2021. The expansion of the Lengau site with a volume of around €20 million will secure demanding jobs in the long term and the Palfinger campus guarantees future oriented training opportunities. We are investing €3.7 million in the campus alone.”

Chairman Hubert Palfinger added: “Palfinger has always followed the principle, ‘from the region, for the region'. With the investment programme, the company is also fulfilling its social responsibility. By securing the best training and the best jobs with prospects, we offer a future. For our employees, their families, the region and thus again for the company."

The following video is a recording of the press conference, complete with intro video, be warned though it is in German.