China’s Ningbo HuaXiang Electronic Co Ltd, principally engaged in the development, manufacture and sale of automobile components, chose Brasov county to build a plant of parts and accessories for German carmaker Daimler, especially for Mercedes Benz cars, classes A and B, addressing the European market.
The investment news was announced on Friday during “China (Xiangshan) – Romania Investment Forum”, an event co-organized in partnership with the People’s Government of Xiangshan County (China), supported by the Chinese Embassy in Romania with the aim of attracting Chinese investors from Xiangshan County, who were presented the investment opportunities and competitive advantages that Romania offers, focusing on sectors with high investment potential, as a press release informs.
The event was attended by Shi Jianding, Deputy Head of Xiangshan County Government, who is on an official visit in Romania, high-ranking officials and businessmen representing a large number of companies from China representing sectors like the textile industry, plastics, auto parts and IT hardware and Manuel Costescu, Secretary of State at InvestRomania.
On this occasion, a memorandum of understanding was signed between Ningbo Huaxiang Electronic Co. Ltd., China (NBHX) and Hib Rolem Trim, Romania – a German-Romanian company from the automotive sector, for implementing the USD 30 million new investment project.
“I truly belief that business partnerships such as the one between NBHX and Hib Rolem Trim will bring more such initiatives of the kind, because investors already present in our country continuing to choose Romania for opening new business facilities will represent by the power of example, the best promotion tool possible. Romania stands as a regional hub for the IT industry and more recently for the automotive / auto parts, sectors of great interest to the Chinese investors present here today, and besides its very qualified labour force, can represent an important gateway to the European market”, Manuel Costescu, Secretary of State for Trade and Investment Promotion stated.
The new factory will produce parts and accessories for the automotive industry, consisting of decorative items for interiors such as: dashboard decorations, center consoles and door decorations
The construction of the 15,000 sq meters factory would start in the first quarter of 2017 and would begin production in the second quarter of 2019 creating 265 new jobs.
It is worth mentioning that last year at the “China (Ningbo) – Romania Investment Forum” the two sides have signed a letter of intent for an investment that involved transferring to Romania a production line manufacturing interior decorations for BMW. The construction of the EUR 10 million plant creating 200 new jobs, started in early July 2015, and is to be finished by December 2016.