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Heraeus Tenevo invests in Bitterfeld factory expansion

German Heraeus Tenevo AG, a subsidiary of precious metals and technology group Heraeus Holding GmbH, intends to invest EUR 365 million in the expansion of its quartz glass manufacturing factory in Bit…

German Heraeus Tenevo AG, a subsidiary of precious metals and technology group Heraeus Holding GmbH, intends to invest EUR 365 million in the expansion of its quartz glass manufacturing factory in Bitterfeld. The company has initially postponed plans and cut 80 jobs. Production in the Bitterfeld factory is to start in mid-2003, CEO Guenter Bachmann said on February 15, 2002. The German state of Saxony-Anhalt has approved a financial aid for the expansion project, which is subject to approval of the EU. The company expects that demand for fibre optics cables will rise by 72% and the telecommunications sector will need 172 million km of fibre optics cable, Bachmann added. Heraeus Tenevo seeks to expand its current global market share of 30%. The company has 900 employees in the US and Germany, including the 390 employees in Bitterfeld.

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