The grants now approved will cover more than 10% of the overall investment and are a fixed element of the investment planning. The expansion is to be financed with Bosch Group loans and internal ersol funds.
The Free State of Thuringia and the Federal Republic of Germany had already accepted this support subject to the approval of the European Commission.
“We are delighted about the approval of subsidies from the European Union. This will enable us to invest over half a billion euros at our Arnstadt manufacturing facility in the next few years. We would like to thank in particular the respective Departments of Trade and Industry of the Free State of Thuringia and the Federation, who lobbied for this important support,” ersol Chief Executive Officer Holger von Hebel said.
