Bosch to Invest EU77 Million in Romania, Gets State Aid
Robert Bosch GmbH (RBOS), the world’s biggest car-parts supplier, plans to invest about 77 million euros ($101 million) in a new factory in Romania, the government said in an e-mailed statement today.
The Bucharest-based government plans to grant state aid to Bosch to help finance the investment in the factory, located near the Cluj-Napoca city, in the center of the country, according to the statement.
“The government is open to support all investments that create jobs,” Prime Minister Emil Boc said in the statement, after meeting Bosch representatives today. “I am glad Bosch has chosen Cluj to expand its operations in Romania, especially after Nokia closed down its factory in the area.”
Nokia OYJ (NOKIA) closed its Cluj-Napoca factory last year as part of a cost cutting program and said on Jan. 25 it will sell the facilities to De Longhi Spa (DLG), an Italian home appliances manufacturer, without disclosing the terms of the transaction.
De Longhi will also receive state aid from the Romanian government to help fund the investment in the Cluj-based factory, the government said in a separate statement, without disclosing the value of the investments.
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