Germany's Ruwel has commenced an 80 million-euro investment, which will enable it to manufacture integrated circuit boards in Cluj for use by the automotive industry. The company has signed the contracts for the first six hectares of land in the Tetarom high-tech park.
"Out of the 80 million euros, 60 million euros will be used for manufacturing facilities, with the rest used for research projects," Axel Bubel, Ruwel's administrator stated yesterday during the signing of the contract with Tetarom. He added production would most likely start early in 2006.
"There's been a time of eight months for preparations and testing and our project does not involve building production facilities alone but also significant research investments," Bubel added.
The Ruwel official specified the funds required for this investment came from a 78 million-euro loan the European Investment Bank had granted to the company.
"Two factories will be built on the leased land, one of which 10,000 sqm wide and the other 7,000 sqm wide; over 600 jobs will be created. The contract stipulates production shall start one year from receiving the construction permits," said Viorel Gavrea, Tetarom director. The entire output in Cluj Napoca will be exported at first.
The representatives of the German company have already conducted talks with the rectors of the Technical University of Cluj in order to secure Romanian experts for its research operations.
Ruwel AG is the main producer of integrated circuit boards in Germany and the second leading in Europe, with factories operating in Germany and Denmark. Romania will thus become the third production location in the world for the German group, which posted sales of 170 million euros from its integrated circuit board output in 2002.
Ruwel-Werke was established in 1945 by Fritz Stahl. Back in 1993 the company was acquired by German investor Bernd Zevers, via the EU-CO Gmbh holding, becoming one of the leading international producers of integrated circuit boards.
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