Automotive firm Continental to start production later than planned at new EUR 40 mln plant in Ghimbav, Romania

International automotive components and tires manufacturer Continental will start operations at its new plant in Ghimbav near Brasov, in September, according to local financial news organization Ziarul Financiar. The company originally announced that production would start at the new facility in April this year. Continental's new Ghimbav plant will manufacture automotive feed-pumps and carry out component sub-assembly work. The new facility required an investment of some EUR 40 million and will employ around 550 people by the end of the first year of production, according to Continental. “Continental through this new investment demonstrates, once again, that it is an active partner for Romania,” said Dr. Christian von Albrichsfeld, general manager of Continental Automotive Romania SRL and R & D Director for Romania, last year when the foundation stone for the new plant was laid during a press event. According to Continental, the Ghimbav facility will supply the most important European car manufacturers. With the new plant, Continental has seven production facilities in Romania and since starting operations in the country more than 12 years ago, the company has invested over EUR 575 million locally. In 2011, Continental hired 1,000 new employees in Romania and aimed to create a further 1000 jobs in 2012. Globally, Continental recorded sales in excess of EUR 32.7 billion in 2012 and EBITDA profits of nearly EUR 4.9 billion. Continental Corporation comprises 443 companies around the world, including minority holdings. The group has around 170,000 employees at 291 locations in 46 countries. editor@romania-insider.com (photo source: Continental Automotive)