May 25 (SeeNews) - Japanese electric motors manufacturer Nidec Corporation has opened a factory in Romania's Arges county, local media reported.
The exact amount of the investment was not disclosed but according to company officials, it is in the area of several tens of millions of euro, Agerpres news agency reported on Thursday.
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The new electric motors factory, opened through the company's subsidiary Nidec Global Appliance Romania, employs 500 people and in the first two years the number of employees is expected to exceed one thousand.
"One reason why we decided to open a production capacity here was that we believe that Romania has a good business environment. The second reason was that we felt that this is the right place to grow the business," Agerpres quoted Valter Taranzano, CEO of Nidec Global Appliance Division, as saying.
Nidec Global Appliance Romania was set up in 2016, when the Japanese group acquired a 94.8% stake in Romanian manufacturer of electric motors for washing and drying machines ANA IMEP for an undisclosed sum.
Nidec Corporation also owns Nidec ASI Ro company in Crevedia, Dambovita county, which it acquired indirectly in 2013. It also owns Emerson's Leroy-Somer and Control Tehniques divisions in Oradea, opened in 2016.
Nidec Corporation was established in Kyoto, Japan in 1973. Currently, it operates in over 40 countries through approximately 300 companies with a total of 110,000 employees.
(1 euro=4.6243 lei)