Pankl Racing Systems AG Supervisory board approved building of a new factory for premium drivetrain components and systems.
From April 2016 a new, self-contained 9,000 square metre production facility will be built in Kapfenberg.
Facility will have a manufacturing area of 6,000 square metres.
Capital expenditure will total 25 million euros ($27.3 million), 9 million euros of which will be for building infrastructure and 16 million euros for machinery to produce high performance drivetrain components and systems.
Machinery will commence operations from 2017 onwards.
Until 2019 will create 75 new jobs.