MIFA Gets Three Million Euro Subsidy
SANGERHAUSEN, Germany – The state of Saxony-Anhalt granted a three million subsidy for the construction of the new MIFA bicycle factory. Last Monday this subsidy was presented to MIFA at the new factory construction site in Sangerhausen.
The subsidy is part of the federal policy “to improve the structure of the regional economy,” as was reported by the German newspaper ‘Die Welt’. Overall MIFA will invest some 20 million euro in the new facility which is built to increase efficiency at producing bicycles. Construction of the new facility will be finalized by the end of this year.
The construction of the new bicycle factory is important to the state of Saxony-Anhalt as the region is struggling with very high unemployment rates. “My aim is to develop more industrial activity here in Sangerhausen with full support from the banks and the regional authorities in order to keep MIFA up and running, said MIFA owner Heinrich von Nathusius, who saved the company from bankruptcy two year ago. He said this in an interview which is published in Bike Europe’s June/July 2016 edition.
Bike valley in Sangerhausen
Von Nathusius also stated that, “the concept is to develop a bike valley in Sangerhausen so we reserved a large area. The German component manufacturer Büchel is the first to invest in a factory as well. All together we are aiming at a facility with a capacity between 1 to 2 million bicycles.”