Ford supplier IAC Group to put EUR 58 million in car parts factory in Romania

International Automotive Components (IAC) Group will invest EUR 58 million in a new greenfield manufacturing facility in Bals, Romania, in the southwest Oltenia region. The facility will produce instrument panels, door panels, headliners and various other interior trim components to support Ford Motor Company's production of two new passenger cars at its plant in Craiova, Romania. The Romanian Government supported this investment project with state aid worth EUR 17 million, which will be granted in various installments and will add to the EUR 58 million IAC plans to invest in Romania. IAC is the first automotive supplier to set up a greenfield facility in Romania to support Ford's operations in Craiova. IAC intends to employ around 400 personnel at the 15,000 sqm Bals facility when fully operational. "This strategic expansion allows IAC to support one of its important global customers, Ford Motor Company, as it continues to expand globally. Furthermore, it strategically positions IAC to support other automotive customers in the region," said Jens Hohnel, IAC Group President and CEO of European operations. editor@romania-insider.com