HANNOVER (dpa-AFX)- The state of Lower Saxony is supporting the conversion of the Continental brake plant in Gifhorn into a site for heat pumps with five million euros. Economics Minister Olaf Lies (SPD) intends to hand over a corresponding grant to the investor Stiebel Eltron next Monday, as announced by the Ministry of Economics in Hanover. In addition to Lies, Stiebel Eltron CEO Kai Schiefelbein will also be on site in Gifhorn to receive the notification.

The building technology manufacturer from Holzminden wants to take over part of the former Conti site and manufacture parts for heat pumps there in future. This is intended to secure 300 of the 900 jobs at the site. Continental announced at the beginning of July that it would be closing the brakes site by the end of 2027.

In addition to Stiebel Eltron, Siemens has now also announced that it will take on employees from Gifhorn. Up to 100 Conti employees are to be given prospects at Siemens Mobility's Braunschweig rail technology plant./fjo/DP/stw