International Automotive Components starts works on its Romanian factory

International Automotive Components Group (IAC), one of the components suppliers for Ford Motor Company, will this week start works on its greenfield production unit in Bals, Olt county. The investment in this project will reach EUR 58 million. The factory should hire 400 people, when fully operational. It will produce various components for Ford's car production in Craiova. The Romanian state has offered a EUR 17 million state aid for IAC's investment in the country. The factory will cover 15,000 sqm and will also be a competence center for IAC in Romania. “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