Hessen Welcomes Major Investments from Asia
Frankfurt am Main, Hessen © David Mark on Pixabay
Asian companies, particularly from Japan, led the way among foreign firms setting up shop in the western German state in 2019.
The state of Hessen is home to Germany’s banking capital Frankfurt am Main. So, it was a logical place for Japanese biggest brokerage and investment bank, Nomura, to establish a subsidiary.
Nomura chose Frankfurt as its location in 2017 after the pro-Brexit referendum in the UK. With the expansion project Nomura Financial Products Europe GmbH in 2019, the company plans to create 100 new jobs in the German financial metropolis. Nomura offers financial services for private and corporate customers and employs around 29,000 people worldwide.
Nomura was joined by fellow Japanese company Toyo Tanso, which is expanding its production facility for its graphite-producing subsidiary HTD Graphit Technologie in the town of Langgöns. The company produces components for the automotive industry, particularly for hybrid and electric vehicles.
Cars are also the business of Vietnamese automaker VinFast, which founded a subsidiary, VinFast Germany, in Frankfurt. It’s tasked with buying, selling and distributing automotive components and materials. The parent company is one of only a few completely private firms in Vietnam and is listed on the Ho-Chi-Minh-City Stock Exchange.
Chinese e-bike manufacturer Zhejiang Star Union E-Bike Components established a subsidiary, Starunion E-Bike Components, in Wiesbaden. It will be involved in distribution, marketing and after-sales.
India’s perishable consumer goods giant EMAMI acquired Bad Homburg company Crème 21, whose products are widely popular in the Middle East. The Indian company will be making a 12.5 million euro investment.
Closer to home Austrian timber company Pfeifer Group is expanding its facility in Lauterbach, Central Hessen, to include a 16-million-euro rail connection.
In Northern Hessen, US online retailing colossus Amazon is opening a 7.5-hectare distribution center in the town of Knüllwald. Some 150 people are expected to work there. And finally, Liechtenstein machine builder Hilti is expanding its presence in Bebra to include a facility providing replacement parts for all of Europe. Hilti repairs more than 1000 machines a day in the western German town.