Swedish group Holmbergs, a specialist in vehicle safety, will relocate part of its production from Hungary and Lithuania to Romania, romania-insider.com reported, citing Ziarul Financiar.
The reports said the group recently acquired 100% of Romanian child car seat producer Te-Rox Prod which operates an integrated production platform in eastern Romania.
The Te-Rox Prod factories in Pascani, Roman, and Ruginoasa will become the Swedish group’s central production hub.
Production will be for Europe, the US and Asia.
“The sale to Holmbergs creates the premises for the development of the brand that we founded in 2007 and which is today a very well organised industrial platform,” said Te-Rox founder and former owner Doina Cepalis.
She will continue to play a key role in the company as the group’s business administrator in Romania and a member of Holmberg’s board of directors, as she is also a shareholder in the company.
“I am sure that the transaction opens new development perspectives, and I am glad that the Swedish partners move the center of gravity of production to Romania,” said Cepalis.
Holmbergs was founded 80 years ago in Halmstad and annually delivers safety systems for over 13m child car seats.
The company is 73.2% controlled by the FSN Capital investment fund, which manages EUR2.1bn worth of assets.