October 20 (SeeNews) - German car parts manufacturer Hella, operating the Forvia brand, said it will invest approximately 20 million euro ($19.62 million) in expanding its facility in Ghiroda, near the western city of Timisoara in Romania.
Planned to open in 2024, the new 13,000 sq m facility will include automatic and semi-automatic production and assembly lines for automotive components, Hella said in a press release on Wednesday.
You can download the 2023 Automotive industry in Southeast Europe report here
The investment will create 500 new workplaces.
Following the investment, Hella's factory in Ghiroda will increase its production capacity by four million parts per year, while sales will increase by an annual 30%.
"Thanks to the extension that we will inaugurate in Ghiroda in less than two years, we will be able to successfully respond to our customers' need for superior products," said Gelu Murariu, General Director of Hella Romania.
Earlier this month, Hella said it has opened two new development sites in the Romanian cities of Iasi and Oradea, as part of its European research and development expansion strategy.
Hella has operated in Romania for more than 17 years and currently employs 4,500. The company operates a regional administrative center, three manufacturing facilities, and three additional development sites in Romania.
($=1.022 euro)