German Draxlmaier Group to spend EUR 30 mln on expanding Romanian factory

GermanDraxlmaier Group plans to invest EUR 30 million for expanding its production capacity its local factory in Satu Mare, West of Romania, according to the company’s representatives, who have met Romanian Prime minister Emil Boc. Through this investment, the company wants to expand the production of automotive electrical wiring. The investment will be carried out between 2012-2013 and will create about 1,000 jobs. The German group has invested about EUR 26 million so far in its factory in Satu Mare and created over 4,300 jobs, while the group’s total investments in Romania have reached EUR 200 million since its 1993 market entry. During the meeting with the Romanian Prime Minister, Draxlmaier’s representatives also presented projects aiming at expaning the production capacity in two other Romanian cities where the group owns factories, namely Codlea and Hunedoara. Irina Popescu, irina.popescu@romania-insider.com (photo source: the company)