Euro-Composites will invest €160 million in Luxembourg
Euro-Composites will extend its production halls and administrative buildings on the Echternach site and acquire new state-of-the-art equipment during the period 2020-2030. The strongly research and innovation-oriented company pursues its investment policy with the goal to remain a leader in highly competitive markets such as aviation and space.
The Euro-Composites group already employs almost 1,100 people worldwide of which 850 are working in Luxembourg. These investments are expected to result in at least 100 new jobs and are part of the company’s strategy for sustainable development. The collaboration agreement between the company and its public partners confirms the conviction of its management that Luxembourg is an excellent location for innovative companies. It also underlines the commitment of Luxembourg authorities to continuously develop high-tech industries.
At the occasion of the signature of the collaboration agreement, Deputy Prime Minister and Minister of the Economy Étienne Schneider commended the regular and constructive exchange between the Ministry of the Economy and Euro-Composites. He also underlined the role played by Euro-Composites in Luxembourg’s expansive space sector:
“Euro-Composites’ activities in the space domain also show that space exploration and the utilisation of space resources attracts start-ups, but also represents a great opportunity for established industrial companies that master key technologies.”
Euro-Composites’ CEO and owner Rolf Mathias Alter welcomed the support received from the Luxembourg authorities and underlined the willingness of innovative industrial firms to contribute to the sustainable economic development of the country.
