Honeywell ramped up production of the new friction materials plant in Ploiesti.
Romania maintains ‘the credibility and stability of the economic and fiscal conditions’ offered to foreign investments, Prime Minister Victor Ponta declared yesterday morning, while on a visit to the industrial estate Ploiesti West Park (about 60 km north of Bucharest), where he attended the inauguration of the Honeywell brake pad plant, Agerpres reports. ‘We took the opportunity of this meeting to announce that the changes we have made and are further up to are such as to specifically encourage investments in research and innovation,’ also said the Prime Minister. The fact that Romania still witnesses investments proves that our country has potential and is trustworthy to investors, the Premier underscored. According to the head of the government, the presence of companies like Honeywell is ‘a sign of confidence and, in the end, an honor to us as a country,’ considering that the global turnover of the American multinational company is ‘close to Romania’s annual budget.
Honeywell (NYSE: HON) Transportation Systems was celebrating yesterday the growing success of its newest Friction Materials manufacturing facility in Ploiesti, Romania, having just achieved the production milestone of two million brake pads. The state-of-the-art manufacturing facility is a key component of Honeywell’s commitment to transform the friction business and improve its competitive position with a high-tech global footprint while building on its investment in Romania.
The Ploiesti plant began operations in November 2012, and is well on its way toward achieving its annual production target of more than 10 million brake pads. The brake pad manufacturing facility in Romania is Honeywell’s first in Europe dedicated to exclusively using the Hot Press manufacturing technology to increase product quality, deliver energy efficiency, and decrease delivery time for its customers.
“This high-tech facility in Ploiesti is the latest expression of Honeywell’s commitment to transforming its Friction Materials business, and alsoto Romania as another example of a high-value, high-quality investment in the country,” said Terrence Hahn, president and CEO of Honeywell Transportation Systems. “Honeywell has enjoyed success in Romania for more than 15 years. The addition of this Friction facility to our existing turbocharger plant in Bucharest – which is our largest turbo plant in the world – is feeding the growth strategies of Honeywell Transportation Systems within the region and around the world.”
The new site in Ploiesti was designed to be more than 14,000 square meters of covered construction and will create more than 300 new jobs in the area. The plant uses new state of-the-art Hot Press machinery and processes to make original equipment brake pads for light duty passenger vehicle applications, largely for European automotive manufacturers.