The manufacturing giant expects the press facility, which brings the group's investment in the area up to $55.1m over the past decade, to be completed by the end of the year.

The topping-out ceremony was attended by a variety of guests that included employees, architects and building contractors, representatives of the city council and the Chamber of Industry and Commerce.

KBA's new foundry has a crane capacity for up to 55 tonnes and is both taller and wider than the existing hall. According to the manufacturer, large press parts such side frames and substructures can be produced more efficiently as a result.

Thanks to the increased capacity, the company is also adding large-core production capability with two blenders to its existing small-core line

Speaking at the event, deputy KBA president Claus Bolza-Schünemann said the project was proof of the group's commitment to its Würzburg production plant.

Last month, KBA president and chief executive Helge Hansen asked to step down from the post some months ahead of his retirement.

Hansen will retire three months earlier than originally planned, at the end of this month. He hands the top job over to Bolza-Schünemann.