Wedemark, Germany - Sennheiser is expanding its corporate and manufacturing headquarters to accomodate the company's growth.
Construction on the company’s new Innovation Campus will begin next month. The building complex will grow Sennheiser's meeting and office space and add a new childcare building, an expanded conference facility and a 199-seat theater, all slated to open in 2014.
The campus is part of an extensive site development plan which follows the opening of a new production and technology center in 2009. It will include the reconfiguration of existing structures and buildings, the company said, and span an area of approximately 3,200 square meters and cost about $20 million euros.
Sennheiser also plans an on-site flagship retail store.
"The company has grown significantly in the last few years," said founder Jörg Sennheiser. "With this expansion we shall not only create urgently required space for 300 employees, but we will also strengthen our headquarters and the development of the worldwide Sennheiser Group."
The campus will offer employees space for collaborative working and dedicated project areas and will further strengthen innovation while ensuring sustainable growth, according to a company statement. The company nursery will open next summer and offer play and learning space for up to 60 children. "We are proud to be able to offer our staff this support and to create a foundation, as a family company, for future generations," said Sennheiser.
A ground-breaking ceremony is planned for July 19.
Separately, Sennheiser announced overall year-over-year sales growth of 10 percent, from 531.4 million euro to 584.4 million euro. The company's consumer electronics division reported sales of 288.6 million euros, a 7 percent increase over last year.
Sennheiser employs more than 2,300 people worldwide, and has manufacturing plants in Germany, Ireland and the United States as well as subsidiaries in France, Great Britain, Belgium, the Netherlands, Switzerland, Lichtenstein, Germany, Denmark, Russia, Hong Kong, India, Singapore, Japan, China, Canada, Mexico and the U.S.