Japan’s JTEKT Corporation plans to expand under a EUR 125 million investment its operations and production facilities currently carried by its subsidiary Koyo Seiko Romania (formerly Alexandria Bearing Company), Profit.ro reported.

The new factory will produce car parts for Toyota Motors in the Czech Republic, Paula Pîrvănescu, a secretary of state at the Ministry of Business Environment, informed upon her visit to Japan.

“The automotive industry is one of Romania’s export engines. The biggest players in the auto parts sector have dozens of factories in Romania, production centers that support whole cities,” the Romanian official told the business community in Japan.

JTEKT Corporation is a Japanese corporation created in January 2006 through the merger of two companies, Koyo Seiko Co. and Toyoda Machine Works, with over USD 1 billion worth of business.

editor@romania-insider.com

(Photo source: Facebook/Ministerul pentru Mediul de Afaceri, Comert si Antreprenoriat)