Chinese automotive company Ningbo HuaXiang Electronic Co and Hib Rolem Trim, a German-Romanian automotive producer, have signed an agreement to develop a USD 30 million factory in Brasov.

The new factory will produce parts and accessories for the automotive industry, namely decorative items for interiors such as dashboard decorations, center consoles, and door decorations for Mercedes Benz, classes A and B, addressing the European market.

The project will be launched in the first quarter of the next year and will be completed by mid-2019. The factory will cover some 15,000 sqm and will create 265 new jobs, according to Romania’s foreign investments state agency InvestRomania.

“I truly believe that business partnerships such as the one between NBHX and Hib Rolem Trim will bring more such initiatives of the kind, because investors already present in our country continuing to choose Romania for opening new business facilities will represent by the power of example, the best promotion tool possible. Romania stands as a regional hub for the IT industry and more recently for the automotive / auto parts, sectors of great interest to the Chinese investors present here today, and besides its very qualified labor force, can represent an important gateway to the European market,” stated Manuel Costescu, Secretary of State for Trade and Investment Promotion.

One year ago, Ningbo HuaXiang Electronic Co and Hib Rolem Trim signed a letter of intent for an investment that involved transferring a production line manufacturing interior decorations for BMW to Romania. The construction of the EUR 10 million plant creating 200 new jobs, started in early July 2015, and is to be finished by December 2016.

French car parts producer opens new factory in Romania

editor@romania-insider.com