Industry News
Pankl to build new facility following company acquistion
24th November 2006
The Austrian based manufacturer of competiton engine components and transmission systems, Pankl Racing Systems AG, has bought the Slovak automotive component supplier Sigus Slovakia.
Sigus Slovakia will be reamed Pankl Automotive and the parent company plans to build a new EUR 5 million 6,600 square metre production facility at the Sigus site in Topolcany in 2007 which will become Pankl’s production centre of connecting rods for high performance road car engines. Pankl’s facilities in Bruck am Mur and Kapfenberg, Austria will then exclusively focus on the development and production of premium engine and drive components for motor racing and aerospace.
Pankl CEO, Wolfgang Plasser, said, 'We aim to establish Pankl Automotive as a third major pillar of the Pankl Group besides racing and aerospace. The new location provides us with a competitive cost structure being vital to execute a growth strategy. This, together with the excellent know how of our team in Austria and the recognition of the Pankl brand in the automotive industry, should provide this new division with promising prospects.'
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