A new investment in the automotive sector in Romania
Sogefi Group has recently decided upon Romania, implementing a new 50 million Euro Greenfield project for suspension components as its second production unit in the country, over an 8 year span.
”After a series of visits and negotiations, we are now seeing the outcome of the assessment trips that Sogefi made in Romania, over the past year. The investment will amount 50 million Euro, will create 250 new jobs and will trigger enhanced competition and further development of the local economy. InvestRomania, part of the Ministry for Business Environment, Commerce and Entrepreneurship, will continue to stand as a reliable partner for development and growth to the international business community, assisting investors during all stages of the decisional process, until the intention becomes a genuine success story”, stated the State Secretary Paula Pîrvănescu.
“We selected Romania given the availability of a well-qualified talent pool, a competitive local business environment and the country’s strategic position enabling an easy access to our western customers. The support of the current government and InvestRomania was an important trigger in making our decision in favor of Romania” said Pasquale Colicchia, representative of Sogefi.
Romania was selected as the implementing location, following a 12 months study conducted by the investor, where assessments have been made for various countries in the pool, including some of our traditional regional peers.
Sogefi (CIR group), founded in 1980 and listed on the Milan Stock Exchange in the STAR segment, is a world leader in the automotive components sector, with innovative products in three business areas: filtration, suspensions, and air and cooling systems. In 2017 Sogefi posted revenues of € 1.7 billion. The company is partner to most vehicle manufacturers worldwide and is present in 23 countries with 41 production plants, 4 research centres and 10 development centres. Sogefi, which employs 6,900 people, is committed to sustainability and promotes the principles of social responsibility throughout its entire supply chain.