Sorin Preda, CEO of Romanian developer Global Vision, said that he has already signed contracts with two German investors in the automotive industry that want to launch and respectively expand their production in Romania, Ziarul Financiar reported. The negotiations with a third investor are already in an advanced stage.

The two companies are IWIS, a manufacturer of precision chain systems that wants to launch production in Romania, and HUF Group, a locking system producer that already operates production facility in Romania and wants to expand it.

Huff, a manufacturer of auto parts working for BMW, Kia, Mitsubishi, Porsche, Renault and Volvo, is reportedly planning the expansion of its factory in Arad with about 8,000 sqm, an investment of several million euros.

“It is a project I worked on during 2019 and recently we were able to conclude commercial agreements with IWIS and HUF,” said Preda.

IWIS has signed with Global Vision a 15 year lease agreement for the development and turnkey delivery of a new factory in Oradea, this being a "greenfield" development of Global Vision. Most likely from this factory, the producer will deliver car parts for the new BMW factory in Hungary at Debrecen. The total value of the investment in this factory will exceed EUR 10 million.

editor@romania-insider.com

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