Handtmann scores a 1st
Print Edition
HANDTMANN Group, Germany’s largest family-owned aluminum foundry, has set up its wholly owned subsidiary in Tianjin.
Handtmann Light Metal Foundry (Tianjin) Co is located in the Tianjin Airport Economic Area, the administrative committee of the area said yesterday.
With a total investment of 75 million euros (US$79 million), the newly established subsidiary runs Handtmann’s first plant in Asia and will primarily make gearbox shells and clutch housings for German automaker Volkswagen.
The 52,000-square-meter plant owns 12 die casting machines and two smelting furnaces.
It is capable of processing 27,000 tons of powdered aluminum to produce nearly 2 million gearbox and clutch housings per year.
It is estimated that its annual turnover would reach 90 million euros by 2018.
In November, Volkswagen invested 265 million euros in a new gearbox manufacturing plant in Tianjin.
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