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Thielert AG

Thielert builds another facility in Altenburg

- Announced expansion is being rigorously implemented
- Altenburg Airport in Thuringia, Germany well matched to requirements
  ots-CorporateNews transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.
Hamburg - At Altenburg-Nobitz Airport Thielert AG is rigorously
advancing its growth strategy. The Hamburg-based aircraft engine
manufacturer is to build a third German facility there. Before 2006
is over a new production building is to be completed and begin
operations. The new production building enables the company to expand
both the production of aircraft engines and the research, development
and testing operations on their jet fuel piston aircraft engines.
Over a three-year period Thielert will invest up to 6.4 million euros
and employ circa 50 staff at the new site. "It is only logical for
us, as an aircraft engine manufacturer, to drive forward the
development of engine installations for aircraft at an airport.
Altenburg-Nobitz is convincing because of its proximity to our engine
facility in Lichtenstein, Saxony," said Frank Thielert, CEO and
company founder. The signing of the purchase contract for the site
took place on 20 April 2006 in Lichtenstein, Saxony.
Thielert develops and manufactures high-performance jet fuel piston
aircraft engines for general aviation. The piston engines from the
Centurion family are jet fuel (kerosene)-fuelled and distinguish
themselves by a radical reduction in operating costs compared to
conventional aircraft engines. Thielert markets engines worldwide.
Now Thielert is opening a third production site in Germany at
Altenburg-Nobitz, following Hamburg and Lichtenstein. The first phase
of the construction is due to be completed before the end of 2006.
The research and development on the Centurion aircraft engines is to
be established at the new site. Testing facilities, including flight
tests, will also form part of the scope of activity. In addition
Altenburg will be the location for progressing the design and
assembly of engine installations in further aircraft types. So the
new Altenburg site will provide the capacity, both in terms of
personnel and space, to expand engine installation in accordance with
company growth.
"The production site at Altenburg Airport is the ideal addition to
our engine facility in Lichtenstein, Saxony.  We are expecting huge
synergy effects across all areas of activity connected with the
installation and testing of our Centurion engines in further
aircraft," said Frank Thielert. He stated that the new site is a
further strategic step on the path of growth which the Thielert Group
has pursued, as previously demonstrated in March 2006 by the
acquisition of the US aircraft engine component manufacturer Superior
Air Parts, Inc. As announced, a part of the capital from Thielert
AG’s initial public offering in November 2006 was used to further
expand its position in the market for aircraft engines and engine
components.
end of announcement                               euro adhoc 20.04.2006 17:00:00

Further inquiry note:

Sebastian Wentzler
Head of Corporate Communication
Telefon: +49 40 6969 5035
E-Mail: press@thielert.com

Branche: Machine Manufacturing
ISIN: DE0006052079
WKN: 605207
Index: SDAX
Börsen: Frankfurter Wertpapierbörse / official dealing/prime standard

Original-Content von: Thielert AG, übermittelt durch news aktuell

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