German engineering company Siemens announced on August 9 it has expanded two of its Romanian plants, operated locally through Simea Sibiu. The two production facilities are located in the central city of Sibiu and in Buzias, western Romania.
The recently completed investments represent a new stage in the successive development of the company's Romanian production facilities. Siemens owns four plants in Romania, with the first being opened in the country 14 years ago.
“Romania represents a centre of interest for the companies operating in the production sector on the background of a highly qualified workforce and competitive costs, and also thanks to its proximity to western markets,” Siemens CEO George Costache said.
The Sibiu factory, opened in 2004, was relocated to a new building. At the same time, production was expanded so that it now includes a electrostatic paint shop for equipment already produced in the factory.
The Buzias factory was expanded at the beginning of August when a third hall, with an area of 1,200 square metres, was inaugurated at the production unit. The Buzias plant in Siemens’s first in Romania and produces parts and cooling systems for engines.
Siemens employed 1,780 people in Romania at the end of September. Apart from the four plants, it also owns four research and development centres in the country.
Related Articles
EC clears €200mn capital increase at Romanian state-owned CEC Bank
The European Commission has approved Romania’s planned €200mn capital increase for state-owned CEC Bank, allowing the country to proceed with strengthening the lender’s financial position, ... more
Austrian bank Addiko to enter Romanian market with consumer loans first
Addiko Bank, an Austrian financial institution specialising in the consumer and SME sector operating in Central and South-Eastern Europe (CSE), is preparing to launch operations in Romania with the ... more
Moldova’s MAIB announces stronger profit and plans to expand in Romania
Moldova’s Maib bank, which plans to list its shares on the Bucharest Exchange (BVB), has reported an excellent third quarter, with net profit rising by 11% year on year to MDL1.1bn ... more
Most Read
-
Putin to skip Rio BRICS summit over ICC warrant as Xi signals no-show
11 days ago
-
Turkey yet to prove rare earth deposit has suggested “giant” potential despite reported processing talks with China
10 months ago
-
Uproar in Mongolia as development bank reveals scale of risky loans and NPLs
3 years ago