BUSINESS

Continental and Draxlmaier willing to invest EUR 170 M in Romania

German automotive parts manufacturers Continental and Draxlmaier are seeking to expand their Romanian operations, showing an interest in several short and medium-term production investments with a combined value of nearly EUR 170 M, according to an Economy Ministry press release issued on the occasion of Minister Ion Ariton’s working visit to Munich. The Continental Group is keen to inject 15.7 M euro into expanding the production capacity of Contitech Fluid Automotive Romania, a project for which it sought state subsidies, according to the legal provisions in force. The investment will create 300 jobs. Continental is going to carry on investments in 2012 and 2013 in Timisoara, where there will be spent EUR 71 M and 400 new jobs will be created, Sibiu, investments of nearly EUR 35 M and 300 jobs, but also in Brasov, the location of a fuel pump plant, a EUR 20 M investment that will create 500 jobs. In its turn, Draxlmaier contemplates making a new EUR 26.8 M investment in Romania. The new plant will provide employment to 1000 people and will have German carmakers Daimler and Porsche as main customers.

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