Local car parts producer Compa Sibiu will invest EUR 10 million to buy an equipment line, which would help it maintain its position as one of the large European auto parts manufacturers.

Compa Sibiu aims to strengthen its position as cable provider in the auto industry, through this acquisition, said Ioan Deac, general manager of Compa Sibiu, cited by local Economica.net.

The company is controlled by the employees, whose association PAS owns a 54.6% stake in the firm. The pension funds managed by NN (former ING) have an 8.16% share in the company. Compa’s shares are listed on the Bucharest Stock Exchange, where the company is now valued at over EUR 35.2 million.

Compa had sales of EUR 95 million and a net profit of EUR 5.3 million, in 2014. The company had close to 1,700 employees.

editor@romania-insider.com

(photo source: compa.ro)