Bosch to invest EUR 60 mln in new production facility in Romania

German company Bosch will invest about EUR 60 million building a new production facility in Tetarom park in Jucu, Romania, after the Finnish mobile phone producer Nokia decided to close down their factory at the site, according to Viorel Gavrea, general manager Tetarom, quoted by Transilvanialive.ro. The household appliances producer De’Longhi previously agreed to buy Nokia’s former production facility in Romania.

The new Bosch facility will produce electronic components for automobiles, and will create about 2,000 jobs. “The contract is completed, it just needs to be signed, or to be more exact, we are waiting for it to be signed after Ministry of Finance approval,” says Viorel Gavrea, quoted by Transilvanialive.ro. Under this contract, Bosch will install its production units on an area of 24 ha in the Tetarom park. Both De’Longhi and Bosch are expected to start activity at Jucu in the first half of this year, says Viorel Gavrea. Bosch has investments in three other Romanian cities: Bucharest, Timisoara and Blaj. The company’s turnover was of EUR 161 million in 2010 in Romania. According to a statement from the company, Bosch Group posted sales of EUR 51.4 billion in 2011, up 8.8 percent over 2010. For 2012, the company expects its sales to grow by 3 to 5 percent. More about Nokia's factory shutdown here. Irina Popescu, irina.popescu@romania-insider.com (photo source: Bosch)