Arbonia sells real estate in Altstätten
EgoKiefer AG, part of the building supplier Arbonia, is selling its properties on Schöntalstrasse in Altstätten (SG) to Valrheno Immobilien AG from Rheintal.
Valrheno is taking over the various properties with a total area of around 45,000 square meters, including office space and production halls. The parties have agreed not to disclose the sales price.
According to a report by the St. Galler Tagblatt Valrheno acquires the striking red office building, the seven halls and the directly adjacent properties of the EgoKiefer AG welfare foundation, consisting of two apartment buildings on Tiefenackerstrasse and a single-family house. The real estate company wants to develop the site.
The background to the sale is the relocation of window production from Altstätten to Wertbau in Langenwetzendorf in the eastern German state of Thuringia. This reduces the need for production and land space at EgoKiefer in Altstätten. The company's headquarters will also be relocated to a new site in the Rhine Valley of St. Gallen, announced Alexander von Witzleben, CEO and Chairman of the Board of Directors of Arbonia. Arbonia will invest a double-digit million amount for this purpose.
