June 2 (SeeNews) - The Romanian unit of German automotive parts supplier Continental said on Tuesday it will invest 33 million euro ($36.7 million) in a project for expansion of its research and development (R&D) centre in Timisoara.
The company has already started working on the expansion which it expects to complete by April 2021, Continental said in a press release.
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Continental will add a six-storey building to the R&D facility in Timisoara, western Romania, with a capacity of over 1,700 employees and a testing and validation area for products developed within the company. The built-up area at the centre is expected to top 26,000 sq m.
"Even though we are all going through a difficult period, at Continental we continue to invest in the future. We continue to offer performance, regardless of whether we are talking about the products or services offered, so we constantly identify opportunities to stay agile, this time by investing in a new building," Continental Romania country head Christian von Albrichsfeld said.
In March, Continental Romania said it has invested 200 million euro in 2019 in the country and plans to invest a similar amount this year.
At the end of 2019, Continental employed over 20,000 at its engineering centres and production facilities in Romania working in international teams on key trends of automotive industry, namely connectivity, autonomous driving and electric mobility, by using methods such as artificial intelligence and big data, the company said.
All five divisions of Continental are represented in Romania. The group has seven production units and four engineering centers located in Timisoara, Sibiu, Carei, Nadab, Brasov and Iasi. Continental is a partner in two joint ventures in Iasi and Slatina and has a tire distribution center in Bucharest.
($= 0.8986 euro)