Japan’s JTEKT Corporation plans to expand through a EUR125m investment its operations and production facilities currently carried by its subsidiary Koyo Seiko Romania (formerly Alexandria Bearing Company), romania-insider.com reported, citing Profit.ro .
The new factory will produce car parts for Toyota Motors in the Czech Republic, Paula Pirvanescu, a secretary of state at the ministry of business environment, said during her visit to Japan.
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Toyota operates a city car joint venture with PSA in the Czech Republic and will soon assume full responsibility for the plant.
“The automotive industry is one of Romania’s export engines. The biggest players in the auto parts sector have dozens of factories in Romania, production centres that support whole cities,” the Romanian official told the business community in Japan.
JTEKT Corporation is a Japanese corporation created in January 2006 through the merger of two companies, Koyo Seiko and Toyoda Machine Works, with over US$1bn worth of annual business.
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