Dräxlmaier to invest €30 million in Romanian units

Food

German auto parts producer Dräxlmaier, the largest employer in Romania in this field, will invest €30 million ($40 million). 

Since it began operations in Romania 14 years ago, the company has invested a total of €210 million ($281 million). Dräxlmaier owns five factories in Romania, in the cities of Codlea, Satu Mare, Timisoara, Hunedoara and Pitesti. Group officials say they are considering opening a new factory. „For the time being we are analyzing the possibility of investing in a new plant, and are searching for a location able to ensure low production costs,” according to Dräxlmaier's Chief Information Officer, Ferdinand Zilcher, for Business Standard.

The five Romanian factories currently employ 18,000 people, almost two thirds of the total of Dräxlmaier's employees worldwide. In the early 1990's, the group relocated its production units from Germany, Austria and Hungary to Romania. „We have found good professionals and low salary-related costs in Romania,” Zilcher said. Moreover, some 300 Romanian employees have been relocated to Mexico, China and Egypt, to help develop the group's production units there. (standard.ro)

ADVERTISEMENT

Business, consumer sentiment improve in January Analysis

Business, consumer sentiment improve in January

Márki-Zay tests positive for COVID-19 Elections

Márki-Zay tests positive for COVID-19

New partner announced at act Bán & Karika Attorneys at Law Appointments

New partner announced at act Bán & Karika Attorneys at Law

Gov't calls for technical screening of László Papp Arena City

Gov't calls for technical screening of László Papp Arena

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.