The company EURO-COMPOSITES® have investd a total of €61 million on its production site in Echternach, for the construction of new buildings and the acquisition of new advanced equipment; this expansion project will increase the production capacity and the investment will create nearly 230 new jobs within the EURO-COMPOSITES® group.
On 20 July 2016 Luxembourg's Deputy Prime Minister and Minister of Economy, Etienne Schneider, visited the company in Echternach to mark this investment: "With this major expansion project EURO-COMPOSITES® officials reaffirm their long-term confidence in the Luxembourg as an industrial site and thus contribute to regional or national economic development. I also welcome the excellent collaboration between the Ministry of Economy and the company, which have consolidated its research and development activities in the Grand Duchy to produce innovative products with higher added value."
Mathias Rolf Alter, President and CEO and sole owner of EURO-COMPOSITES®, stated "Luxembourg is the ideal location for us given its central location, good training and multilingualism of its inhabitants as well as efficient collaboration with the Luxembourg authorities."
Present in Luxembourg since 1984, EURO-COMPOSITES® develops, produces and processes composite materials, including sandwich panels made of a honeycomb structure. The aviation sector is the main market of the company. Industrial, defense and aerospace areas are also clients of EURO-COMPOSITES® that produces composite panels and aluminum used inter alia in the manufacture of satellites.
In 2015, EURO-COMPOSITES® SA in Echternach achieved a turnover of €116 million and currently employs approximately 800 employees.
