German producer of automotive components Kromberg & Schubert has decided to buy the property leased from Solvency Project for the last 10 years, in order to expand the current manufacturing capacity at its factory on site

The property covers a total area of some 27,000 sqm and includes a production facility and a plot of land in Chisneu Cris, Arad county, in the western part of Romania.

The sale and purchase transaction was brokered by JLL. The value of the deal was not disclosed.

“The proximity to the pan-European corridors, and the availability of qualified engineers and workers in Western Romania are arguments for foreign production companies as well as investors for expanding in Romania,” said Cristina Pop, head of Industrial Agency for JLL.

“This transaction proves the confidence of the German company into the long-term future of the Romanian industrial & labour market and we expect further entries in the following period. We are currently dealing with several inquiries from other companies that explore this possibility,” she added.

The German company currently manages four operations in Central and Western Romania, in Sibiu, Medias, Timisoara and Chisineu Cris. The factories produce electrical systems for the automotive industry.

Kromberg & Schubert employs some 26,000 people in over 30 locations.

Irina Popescu, irina.popescu@romania-insider.com