Continental to Invest €50 Million in Timisoara

BUCHAREST, Romania - Continental AG, Europe’s second-biggest automotive supplier, aims to further increase its already wide presence in Romania, where it plans to invest €50 million in developing production at its Timisoara tyre plant, local daily Ziarul Financiar reported, without disclosing the source of information.

In the first stage of the investment, local subsidiary company Continental Automotive Romania will create some 200 new jobs by 2012. The supplier has already invested €220 million in Romania since 2010, Ziarul Financiar said.

With approx. 9,000 employees, Continental Automotive Romania currently operates eight production units and three R&D centres in Arad, Carei, Iasi, Sibiu and Timisoara. Its production consists of systems and components for powertrains and chassis usage, instruments and infotainment solutions, vehicle electronics, tyres and technical elastomers.