Verdion Celebrates Topping-Out Ceremony for Siemens Manufacturing Plant in Chemnitz Germany

30/04/2014

Verdion, the specialist European logistics property investor and developer, has celebrated the topping out of Siemens’ 376,749 sq ft (35,000 sq m) logistics and production facility in Chemnitz, Germany with a traditional ‘Richtfest’ ceremony.

Among the 170 guests in attendance were representatives from Verdion and Siemens AG, which will occupy the bespoke facility, along with key people from the city of Chemnitz, the general contractor Max Bögl and – as is synonymous with a German Richtfest – more than 100 members of the construction team.

After a welcoming speech from André Banschus, Verdion’s Country Manager: Germany, the general foreman of Max Bögl, dressed in traditional attire lifted the crown to celebrate this important stage in construction.

Work on the €30 million project is progressing well. Since the start of construction in October 2013, around 140,000 tonnes of earth have been moved and 1,450 precast concrete parts built; 15,000 m² of wall panels have been installed; 28,500 m² of roof covered and; 10,000 m3 of concrete poured.

André Banschus says: “I am very impressed with the quality and speed of work from our contractors at this important facility. At the same time I am proud that Verdion was selected by highly renowned companies such as Siemens as a partner for the planning, financing and development of this important facility which is on track for completion in August this year.”

The next phase of construction is the interior fit out and the completion of the outdoor facilities.

Siemens, the multinational engineering and electronics conglomerate, has been located in this region for 110 years and already operates systems engineering facilities at four locations in Chemnitz. This new facility will allow the firm to bring some of the smaller production units together under one roof.

Chemnitz is in a central location with excellent transport connections to major German cities as well as to Poland and the Czech Republic. Since the year 2000 the city has ranked among the top 10 German cities in terms of economic growth.

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Notes to editors

Photo: Pictured from left to right are: Michael Catford (HOOPP), Mike Hughes (Verdion), Nick Macrae (HOOPP) and Chris Holtved (HOOPP).

Verdion is a major real estate investor and developer with a specialist focus on logistics warehousing in mainland Europe. Its current development pipeline exceeds 10 million sq ft (929,000 sq m) of Grade A warehouse space across the Continent. The company has offices in Dusseldorf and London. Formerly known as Helios Europe, Verdion was formed in January 2010 by Michael Hughes.

Verdion has the exclusive mandate from the Healthcare of Ontario Pension Plan (HOOPP) for all direct investments in European logistics property. HOOPP is one of the largest and most successful defined pension plans in Canada with 274,858 active members and pensioners and $47.4bn in assets available for pensions.

The partnership is currently working together to develop Verdion’s Logistics schemes in the UK, Germany and Scandinavia, including the Siemens facility in Chemnitz, Germany, the 3PL facility Denmark and the 6 million sq ft (557,400 sq m) rail logistics project iPort in Doncaster, UK.

For further information, please contact:

Mike Hughes, Verdion Tel: +44 (0)20 7193 9557
Kate Titchmarsh, Flashbulb Tel: +44 (0)20 3440 4116