Car industry - Automotive supplier Ifa is in the black
Saxony-Anhalt's largest automotive supplier Ifa from Haldensleben will be back in the black this year after a long dry spell. The company will "make a profit again for the first time in six years", an Ifa spokeswoman announced on Monday. Despite difficult conditions in the supplier industry, the forecasts for the coming year are also positive. The reasons for the profit include lower costs due to a streamlined production structure. In addition, the company achieved the largest order profit in its history last year.
The Ifa Group produces longitudinal shafts, side shafts, joints and components for car manufacturers. According to the company, its customers include BMW, Ferrari, Ford, GM, Mercedes, Porsche and Volkswagen. The company emerged from the GDR industrial combine for vehicle construction "Ifa-Gelenkwelle" and was privatized in 1992. Around 2200 employees work for the group, which is headquartered in Haldensleben, at seven locations.
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The auto industry in Saxony-Anhalt relies heavily on local suppliers like Ifa, which is based in Haldensleben. Despite facing challenges in the supplier industry, Ifa managed to secure large orders, contributing to its anticipated profit this year. Due to cost-saving measures and record-breaking orders, Ifa's production of longitudinal shafts, side shafts, joints, and auto components for companies such as BMW and Volkswagen will help quench the industry's thirst for parts during this thirsty stretch.
Source: www.stern.de
