With the acquisition of property in the Hungarian city of Miskolc,
Lufthansa Technik AG today initiated the establishment of a new site
for the repair and overhaul of aircraft engine parts. Dubbed
Lufthansa Technik Miskolc, a new fully-owned subsidiary of Lufthansa
Technik AG will commence operations until 2022 and will utilize
around 20,000 square meters of production space. Customers of
Lufthansa Technik´s Engine Parts & Accessories Repair (EPAR) network
will greatly benefit from this extended production capacity.

In the long term, Lufthansa Technik Miskolc will employ around 400
employees. Investments in the triple-digit million-euro range will
hence not only encompass state-of-the-art machinery for procedures
such as cleaning, thermal spraying and heat treatment of engine
parts, but also an extensive training and qualification program.

"I am honored that a world-renowned company such as Lufthansa Technik
is expanding its presence in Hungary," said Péter Szijjártó,
Hungary´s Minister of Foreign Affairs and Trade. "On the one hand,
this decision once more proves the attractiveness of our business
location. On the other hand, it also recognizes the enormous
commitment of the people in Miskolc."

"As the fourth-largest city in Hungary, Miskolc offers a great number
of highly-qualified technical experts and moreover a good
infrastructure", added Philip Mende, Head of Engine Parts and Mobile
Engine Services at Lufthansa Technik. "We look forward to building
Lufthansa Technik Miskolc together and adding the new colleagues to
our worldwide network."

"For technology companies, Miskolc has already proven to be a great
place to invest in," said Dr. Ákos Kriza, Mayor of Miskolc. "We are
honored to welcome Lufthansa Technik in our city and we are going to
justify their trust with the same outstanding support that has
already fostered many business success stories here before."

Construction at the new site is planned to begin in 2021. Training
and qualification courses for its employees will already begin in
2019 and will partly take place at the existing sites of the EPAR
network in Germany, Ireland, Malaysia, China and the USA. With more
than 20,000 part numbers and over 1,500 employees, Lufthansa
Technik´s EPAR network today is the largest OEM-independent provider
for repairs and overhauls of aircraft engine parts. By investing in
the new location, EPAR is further strengthening its market position
and expanding its repair portfolio for entering the new engine