German group Daimler’s business in Romania, down for the second year in a row
Star Assembly, German group Daimler’s division in Romania that produces automatic gearboxes, recorded a turnover of EUR 1.52 billion in 2019, down by 2.2% compared to the previous year, according to data from the Finance Ministry.
Romania Insider · Journalist
· Updated · 1 min read
Star Assembly, German group Daimler’s division in Romania that produces automatic gearboxes, recorded a turnover of EUR 1.52 billion in 2019, down by 2.2% compared to the previous year, according to data from the Finance Ministry.
This was the company’s second business decline in Romania.
Star Assembly recorded its biggest turnover in 2017, little over EUR 1.6 billion.
The company’s net profit went down by 12% in 2019 compared to 2018, to RON 232 million (EUR 48 mln). The number of employees also declined in 2019 to an average of 1,737, from 1,854 in 2018.
The Star Assembly factory in Sebes, central Romania, produces some of the most advanced gearboxes in the world, used on Daimler’s Mercedes models.
Daimler’s other company in Romania, Star Transmission, which produces car parts at a factory in Cugir, also recorded lower results in 2019. The turnover went down by almost 10% to RON 352 million (EUR 73 mln) and the net profit halved to RON 16.8 mln (EUR 3.5 mln).
(Photo source: the company)
