Izlake - ETI Elektroelement Izlake, one of the world's biggest manufacturers of fuses, switches and circuit breakers, has won a EUR 2.3 million subsidy for a EUR 15 million investment to automate and digitalise its production process.

Speaking with the STA, ETI said they were planning a new package of automation and digitalisation over the next two years to expand production capacity and increase value added and sales by 2025.

As part of the subsidised investment ETI says it will keep 856 existing jobs, including at least 146 high-qualified staff, and create six new jobs within three years after the investment is completed.

The project entails automatisation and digitalisation of fuses and circuit breaker production processes, construction of storage and production premises and investment in new machinery and equipment.

The Economy Ministry approved an up to EUR 2.3 million subsidy for the justified expenses for tangible capital assets. ETI will get up to EUR 453,917 this year, up to EUR 568,386 in 2023 and up to EUR 1.3 million in 2024.

ETI says the investment will increase production capacity for individual products by 20-50%, which would allow them to attain targets under the 2021-2025 strategy.

The whole package comprises 35 investments, nine of which were launched last year and a further five at the beginning of this year. All investments are slated for completion in the first half of 2024.