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| Lübeck. Dräger Medical AG & Co KG, Lübeck, has received an investment subsidy of some €7.8 million, one of the highest sums to be granted over the past few years. Today, finance minister Dietrich Austermann handed over the subsidy notice to Dr. Wolfgang Reim, Executive Board Chairman of Dräger Medical, who was accompanied by Stefan Dräger, Executive Board Chairman of Dräger AG, and the mayor of Lübeck, Bernd Saxe. This is a further step towards safeguarding the Lübeck location. Just at the beginning of December, the City of Lübeck received a subsidy notice from the Ministry of Finance for €4.8 million from funds for the improvement of Moislinger Allee under the Community Transport Financing Act [“Gemeindeverkehrsfinanzierungsgesetz”: GVFG]. |
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| Austermann commented in Lübeck today: “Dräger Medical is one of the most important companies in this federal state. It would be impossible to imagine Lübeck without it. I am delighted that the City and the State have taken all steps required to ensure that Dräger Medical remains competitive here. This is also excellent news for Dräger’s employees. The state government and the City of Lübeck have kept their promises from last year. This has brought a great deal of security”.
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| Overall, Dräger is to invest some €50 million in its new company headquarters. Dräger Medical’s new headquarters are to be built on the former parking lot at Finkenstrasse and be ready for use at the end of 2007. Work can then begin on restructuring production. |
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| For Stefan Dräger, Executive Board Chairman of Drägerwerk AG, the support through state subsidies coupled with the agreements with employees and trade unions providing for more flexible working hours and pay, was crucial to Dräger Medical remaining in Lübeck. |
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| Dr. Wolfgang Reim, Executive Board Chairman of Dräger Medical, is confident that the investment will considerably strengthen the company’s competitiveness, thanks in part to shorter, faster and more efficient flows of information and goods which will maximize customer orientation. The attractiveness of jobs, and thus Dräger Medical’s attractiveness overall as an employer, will also be boosted.
In total, Dräger Medical generates almost 80 percent of its revenues abroad, the dependency on the global market is growing and requires steps to be taken in order to bolster international competitiveness.
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| In 2004, Dräger Medical packaged a deal with City and State to secure the business location with currently 1,600 employees in the long term. The Hanseatic City of Lübeck was able to set itself apart from strong competition, both at national and international level. The package included privatizing parts of Finkenstrasse and transferring them to Dräger as well as rounding off the Dräger site. The State has declared its willingness to support the urgently needed investment measures with the highest possible subsidy level of 18 percent. The funding comes from the “joint task of federal and state government for the improvement of the regional economic structure” [Gemeinschaftsaufgabe “Verbesserung der regionalen Wirtschaftsstruktur”]. |
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Karin Fehlau, Ministry of Science, Economics and Transport
Düsternbrooker Weg 94, 24105 Kiel
Tel. 0431 988-4420 | Fax 0431 988-4705 | E-Mail: pressestelle@wimi.landsh.de
Drägerwerk AG, Lübeck
Corporate Communications: Dr. Welf Böttcher
Tel. 0451-882-2201, welf.boettcher@draeger.com
Investor Relations: Vanina Herbst
Tel. 0451-882-2685, vanina.herbst@draeger.com
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(c) Drägerwerk AG & Co. KGaA, 2007 |
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