Inovatools Cutting tool supplier opens production hall as part of €15 million investment
The upgrades are expected to be completed over the next four years.
Inovatools has announced the inauguration of its new €4 million centre for production, offices and logistics in Kinding-Haunstetten, Germany, which it said signalled the completion of an important phase of its “Future” expansion project.
The VHM tool manufacturer said that with this facility, Managing Directors Georg Eckerle, Ditmar Ertel and Memo Ildirar have “laid another foundation stone for the worldwide expansion towards becoming a global player”.
To reach this goal, the company said it expects to invest an additional €11 million by 2017 for a total expenditure of €15 million.
The tool manufacturer said it wants to use the investments to increase the speed of production and make it more profitable while at the same time maintaining a continuously high quality level. The improvements are also seen applying to lead times, which the company said it expects to become even shorter.
Following what was the third enlargement in the 21 years of company history, the Kinding-Haunstetten site now covers 15,000 square meters, the supplier said. In addition, 15 new machines have also been added to the company’s production line. Furthermore, Inovatools explained that it has other plans which are part of the expansion: Along with the additional investment, the company said it will create 50 new jobs over the next few years “to be strategically prepared for the coming global challenges”.
Represented in some 40 countries, the company said its 150 employees are generating an annual turnover of about €30 million.