Agreement between Government and Daimler, signed; Daimler, to invest over 300 million euros
Daimler AG will invest over 300 million euros in its branch in Romania, Star Transmission, to serve the top segment of the demand of gearboxes and transmission system components for Mercedes, shows a release of Minister Delegate for Infrastructure Projects of National Interest and Foreign Investments Dan Sova.
At the Palace Victoria, on Monday, Sova and the legal representatives of Daimler AG signed the investment agreement between the Government and Daimler German producer.
According to the cited release, Dan Sova gave guarantees to the German delegation on the fact that Romania‘s Government, together with the local authorities, would make all necessary efforts to ensure a good investment climate, so that the German company could have the best conditions to conduct and develop its investment activity.
‘The expansion of our production capacities to include new locations for assembling gearboxes is designed to add to our existing capacities. Our objective is that of covering the high demand from customers with an increased flexibility,’ Daimler Board member Andreas Renschler informed in a release at that time.
The German group made the decision to build new production capacities in Romania, because they could not expand the production line in Stuttgart. ‘Star Transmission has been a trustworthy partner for our plants in Germany for over 10 years. Taking into account our excellent experience with Star Transmission, we preferred to choose to expand our capacities there,’ Unterturkheim Mercedes plant Manager Peter Schabert said.
Star Transmission subsidiary was established in 2001 and currently has approximately 800 employees. Daimler underscored that the employees in Romania would attend a special qualification programme, for several months, in the plant of Unterturkheim.
Moreover, depending on their obtaining the Romanian Government’s support, Daimler group informed they planned to initiate the production of a new automatic transmission box in Sebes, starting in 2016.