Thielert AG

Thielert builds another facility in Altenburg

- Announced expansion is being rigorously implemented - Altenburg Airport in Thuringia, Germany well matched to requirements

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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.

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ots Originaltext: Thielert AG
Im Internet recherchierbar: http://www.presseportal.de

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



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