Expansion of Capacities in Hoyerswerda by Liechtenstein Corporation
In a boost for the local economy, the town of Hoyerswerda in Saxony, Germany, is set to witness a significant increase in job opportunities as a result of an expansion project by Yados GmbH, a subsidiary of Liechtenstein-based company Hoval AG. The investment of approximately 20 million euros will facilitate the expansion of Yados GmbH’s capacities, and is expected to create employment for over 600 individuals, almost doubling the current workforce of 320 employees.
Meeting Growing Demand for Energy Systems
Yados GmbH specializes in the production of energy systems, particularly heat pumps and district heating components. The expansion initiative aims to equip the company to meet the increasing demand for these products, specifically for heat pumps and district heating components. The expansion project will include the construction of two new factory halls, resulting in the doubling of production floor space to approximately 24,000 square meters by the end of this year. The new facilities are scheduled to commence operations in early 2025.
The expansion project also embraces sustainability by installing around 1,500 solar modules on the new hall roofs. These modules are projected to generate approximately 500,000 kilowatt-hours of electricity annually, contributing to the company’s green initiatives.
Support from Local Government
The investment by Hoval AG in the expansion of Yados GmbH’s facilities has received support from the regional government. The state of Saxony has also contributed to the investment, recognizing the economic benefits it will bring to the region. The Bautzener Landrat Udo Witschas expressed his support for the project, stating that the investment will enhance the attractiveness of the Lausitz region as a whole.
“The Yados investment contributes to the overall attractiveness of the Lausitz region.”
The expansion project in Hoyerswerda builds on Hoval AG’s earlier investments of approximately 60 million euros in Vaduz, Liechtenstein, and Istebné, Slovakia, to expand their production of heat pumps. This latest phase of expansion demonstrates the company’s confidence in the growth potential of the energy systems market and its commitment to providing sustainable solutions.