Growth at LMG Hoym: ground-breaking ceremony for a new production hall – 50-million euro investment and major order win
MAGDEBURG, Germany, March 9, 2023 /PRNewswire/ — Contrary to current trends in the aluminum industry, LMG Manufacturing GmbH in Seeland/Hoym is expanding its production and investing 50 million euros in a new production hall with four production lines. The expansion will create around 120 additional jobs and strengthen the company in the long term. LMG Hoym is resolute in transforming the automotive sector — moving it away from the world of combustion engines — and will become a supplier of aluminum die-cast parts for e-vehicles.
At the ground-breaking ceremony for LMG Manufacturing’s new production hall, Sven Schulze, Minister of Economic Affairs, Tourism, Agriculture and Forestry of Saxony-Anhalt, said, “I am very pleased with the long-term decision to strengthen Hoym in the heart of Saxony-Anhalt and congratulate the automotive supplier LMG on its forward-looking growth”. Dr. Robert Franke, Managing Director of Investment and Marketing Corporation Saxony-Anhalt mbH (IMG), which oversees LMG, added, “Increasing capacity for the production of components for e-vehicles will provide an important boost for the entire automotive sector in Saxony-Anhalt”.
The aluminum die-casting specialist was acquired by the long-standing Indian company, Jaya Hind, at the end of 2022. The current investment is a first step to further modernize LMG as well as to internationalize and develop new product technologies. Initially, eight new products will be manufactured in the new hall with a planned annual output of 1,200,000 units.
The planned speed of construction of the hall is record-breaking. Due to a new order placed by a well-known automotive manufacturer that is relocating component production back to Germany, the hall must be ready for occupancy by the end of August 2023, and series production must begin by the end of this year.
District Administrator Markus Bauer said the investment would further strengthen the district of Salzlandkreis as an attractive business, residential and scientific location. “Our beautiful district of Salzlandkreis offers extremely favorable conditions for the successful transformation of the company”. The district administrator assured that the district authority would support the construction project to the best of its ability to ensure rapid progress. To this end, Markus Bauer handed over the initial partial building permit at the ground-breaking ceremony.
Overall, the expansion of production is expected to increase the current workforce of 170 employees to 290. LMG is recruiting skilled workers from the region to fill these positions. In the coming years, the company plans to double its production volume, facilities and workforce, said Managing Director Christine-Susanna Tirnaksiz. Her goal: “With the expansion of our product portfolio, we are completing the transformation of the automotive supply industry at the right time and are thus positioning ourselves well for the future. Every e-vehicle produced in Germany in the future should have parts produced in Hoym!” Tirnaksiz describes her vision.
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