Continental and Draxlmaier continue to invest in Romania

According to the Ministry of Economy the German producers of auto parts and components, Continental and Draxlmaier want to extend their activity in Romania being interested on short and medium term to run more investment in production, with a combined value of almost 170 million euro.

Continental Group plans to invest 15.7 million euro for expanding the production capacity of ContiTech Fluid Automotive Romania and for this project required state aid in accordance with the legal regulations. The investment will create 300 jobs. Continental will continue the investments in 2012 and 2013 in Timisoara, where they will spend 71 million euro and will create 400 new jobs. In Sibiu the company will allocate about 35 million euro and will create 300 jobs and in Brasov, will open a fuel pump factory. The investment amounts to 20 million euro and the number of newly created jobs will be 500.

Draxlmaier takes into account the development of a new investment in Romania of 26.8 million euro. The new factory will create 1000 jobs, the main customers being the German car manufacturers Daimler and Porsche.