Preh Launches New $12 Million R&D Center

NOVI, Mich. - June 8, 2015 - PRLog -- To further its successful growth strategy into the future, Preh began a new building investment program last year that is now taking concrete form, investing $12 million (€11 million) in a new R&D center at its primary location in Bad Neustadt, Germany. This extension of its development and logistics capabilities will have a gross floor area of around 81,806 sq. ft.

In February of this year, a new logistics entrance with a dispatch and customs office already opened on the Preh worksite. In addition, 170 new parking spaces are currently being built for employees. These preparatory measures for the Preh plant expansion will be completed by the end of May 2015, with the groundbreaking for the new R&D Center taking place in the second quarter of 2015. The work on the deep foundation (approx. 50 feet) will be the first step; project completion is planned for the fall of 2016.

Describing the project, Preh President and CEO Dr. Michael Roesnick said, “Our investment program is according to plan. By streamlining our R&D capabilities, we are creating the necessary preconditions to support the dynamic growth of the Preh Group. At the same time, we are reinforcing the position of Bad Neustadt as the decisive innovation site for the Automotive Electronics division in the Joyson Group.

About Preh
Preh is a subsidiary of the Joyson Group in Ningbo, China, which has combined its automotive activities in the exchange-listed company Joyson Electronics. Within Joyson, Preh forms the corporate division Automotive Electronics.

As a global automotive supplier, Preh recorded sales of $667 million (€611 million) in 2014 with around 4,200 employees. The company has locations in Germany, Portugal, Romania, Mexico, the U.S.A. and China.

Preh’s development and manufacturing capabilities focus on climate and driver control systems for passenger and utility vehicles, electronic control units for the battery management of electrical vehicles, as well as assembly and automation systems.