EADS brings 100m-euro investment to Brasov

Premium Aerotec GmbH, part of Franco-German-Spanish group EADS (European Aeronautic Defence and Space Company) will seal an around 100 million-euro contract to build an Airbus components manufacturing plant on the IAR Ghimbav site in Brasov over the next few days. It is a greenfield investment, which would fall under the scope of the offset law, and receive around 40 million euros in state aid, according to Brasov mayor George Scripcaru. "It will be an investment from scratch. But modifications need to be brought to the offset law (which regulates strategic contracts and forces sellers of strategic products to reinvest in Romania at least 80% of the sum secured under the contract), via an emergency ordinance," says George Scripcaru. The Ministry of the Economy, where the contract with Premium Aerotec, the German division of the EADS group was negotiated, did not provide details on the date when the contract was to be signed or on its size. Claudiu Stafie, Secretary of State in the Ministry of Economy, says "the project is close to being finalised, and we will probably announce the good news that it has been signed at the beginning of February. The Ministry of Economy did not wish to comment on the size of the state aid to Premium Aerotec. EADS representatives could not be contacted for comment by the time this issue was ready for print.