Mitec Automotive AG wins major contract from Fiat
The Mitec Automotive AG receives a major order worth approximately € 50 million from Fiat. "The award of this major contract, based on our good development work that strengthens the market position of the group in Europe and stabilize the production site Eisenach, too," said Dr.-Ing. Michael Militzer, CEO of Mitec Automotive AG. "Supercharged gasoline and diesel engines, lightweight and small displacement, equipped with the flexible shaft technology of Mitec is to produce market-compatible costs and provide a sustainable response to the hype of the electric mobilization dar." As the CEO of Mitec Group, Dr. . Militzer tells further, keeps Mitec Automotive AG consistently desired by many car manufacturers close to the supplier for its own production site. With the production plants of the group, the Mitec Jebsen Automotive Systems Dalian, China, responsible for the region of Korea, Japan and Thailand, the Location of Mitec Powertrain Inc. in Ohio, responsible for the entire U.S. market, including NAFTA and the plants in Eisenach to meet the needs of the customer-end customers on three continents and presently has 1,100 employees are employed. Founded in 1991 in Eisenach Mitec Automotive AG is a global leader in the automotive propulsion technology. Its primary activity is the reduction of noise and vibrations as well as the increase in efficiency within the powertrain. The products of Mitec serve the important future trends in the automotive industry, such as downsizing, hybridization, fuel consumption and CO 2 emissions. In Germany, the Mitec Automotive AG 774 employees (as of 31/12/2010). At the end of 2010, the Company had total assets of more than 123 million euros and a net profit of 5.72 million euros on a turnover of around € 137 million