Hidria launches new robotised production line
Hidria will need the new facility to manufacture aluminium steering systems after striking a EUR 60m contract with Volkswagen, the German car manufacturer.
Speaking at the launch, Hidria CEO Iztok Seljak said that the company was now able to offer development three years before the launch of production of key steering components.
The new line also marks a "leap to the top rank of steering component manufacturers" and a major reference in the global market and will enable Hidria to increase its market share in Europe above the 20% it currently has.
The ceremony was also addressed by Prime Minister Miro Cerar, who said the facility meant a "new development investment, new jobs and even stronger involvement by Hidria and Slovenia in the global automotive market and modern industrial technologies".
At its Koper location Hidria is planning to establish a platform for development of green mobility dubbed Edison, as well as the InnoRenew centre of excellence for research and innovation in the field of renewable materials and sustainable building.
Seljak believes that combining both hubs at a single location will make it easier to attract development departments of car producers; Hidria hopes Edison will be able to compete with the Silicon Valley in the field of green mobility.
The Edison project also involves the municipality of Koper. Mayor Boris Popovič said that its implications went beyond Koper and even Slovenia and that only those who understood that "the car industry is a dead man walking" had a future.
Hidria plans to increase sales revenue to EUR 242m this year, from EUR 215m the year before. EBITDA is projected to increase from EUR 26m to EUR 32m. A growth of between 5% and 10% is also planned for 2018.
Hidria employs more than 430 people at its Koper location, and has invested EUR 45m in production there in the past eight years.