China to invest multi-million Euro in Romanian automotive industry
A company specialized in producing automotive industry components will be working with a German-Romanian company on an investment project for vehicle trim pieces.
Following an agreement between Ningbo HuaXiang Electronic Co. Ltd (China) and Hib Rolem Trim România (part of Hib Trim Part Solutions – a German group), a multi-million Euro investment project will soon help develop Romania’s automotive industry. The two companies recently signed a memorandum of understanding on September 23rd, 2016 to build a manufacturing center for automotive trim components. Specifically, a total of 30 million Euro (136,02 million Ron) will be used to create a production warehouse of 15.000 square meters, which will offer 265 jobs. The announcement was made during the events of the ‘China (Xiangshan) – Romania Investment Forum’, a gathering of business representatives, aimed to promote the business opportunities of both Romania and the Xiangshan Province (in China).
What Romania will be making
Future factory employees will be working on various parts and accessories for the automotive industry. Following the recent announcement at the automotive business event, Romania will be making dashboard trim, parts for central consoles and door ornaments for Daimler (Mercedes) class A and B vehicles. All of these components will be installed on new Mercedes vehicles sold on the European continent.
An opportunity for the following years
Estimates show the build project for the factory will commence sometimes in the first quarter of 2017, with high expectations to inaugurate the facility in the second quarter of 2019. The project involves building the actual enclosed space and equipping it with all the necessary machinery to produce automotive components.
A history of collaboration
This is not the first project that these industry representatives have been involved in. Back in 2015, at the ‘China (Ningbo) – Romania Investment Forum’, the two companies signed a contract for 10 million Euro (45,34 million Ron). Initiated in July 2015, the project aims to move a production line in Romania, inside a 10.000 square meter facility. The new factory is set to produce interior vehicle trim for automotive manufacturer BMW and construction should be completed no later than December 2016. Ningbo HuaXiang Electronic Co. Ltd, with headquarters in Shanghai (China), is responsible for developing, manufacturing and selling automotive components. Hib Rolem Trim România is part of the German Hib Trim Part Solutions Group, specialized in decorative components, trim parts and various design elements for vehicle interiors.
