Star Transmission, the Romanian subsidiary of German group Daimler, will complete this year its new plant in Sebes, Alba county.

The investment amounts to EUR 300 million and will create over 500 jobs.

The factory, which will produce and assembly gearboxes, is 95%completed. The company will carry out the first production tests this fall, and it will start producing next spring, reports local Ziarul Financiar.

Star Transmission will have over 2,000 employees in Sebes and Cugir, once the plant begins operations.

The company posted a EUR 57 million profit in 2014, up 57% over the previous year. The profit amounted to EUR 3.2 million.

editor@romania-insider.com