German car parts producer Draexlmaier has attracted a financing of EUR 40 million from the European Bank for Reconstruction and Development (EBRD) through an issue of hybrid bonds.

The company will use the money to increase its production capacity in its factories in Romania, Serbia, Macedonia, and Tunisia. It will also finance the construction of a new production unit in the Republic of Moldova. The total value of the project initiated by Draexlmaier amounts to EUR 90 million, according to a notice of EBRD.

In Romania, the German group has production units in five cities, namely Satu Mare, Pitesti, Timișoara, Hunedoara and Brasov. The company has been operating in the local market since 1993, and it is one of the largest employers in the country.

editor@romania-insider.com