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Fujikura to take ACE investments further

Fujikura to take ACE investments further
04.10.2006, 19:49 11

The Japanese company Fujikura, which took over the Spanish-owned ACE car parts producer, will continue to invest in Romania, as part of its European expansion strategy. i
"There will be no major changes in the wake of this acquisition and according to information we have, the management will not be changed.
The Japanese group will only be involved in the financial investment in the seven plants that ACE Automotive owns. At the same time, investments in Romania will be taken further, with development projects targeting the expansion of production capacities in the region," Antonio Soria Barranco, general manager with ACE Romania, told ZF Transilvania.
The acquisition of ACE Automotive by Fujikura was concluded on September 25, with the process due to be finalised on October 4, when the Japanese are to pay 86 million dollars (66.1 million euros) for 60% in the Spanish group.
In mid August, ACE started building a new production facility in Dej, which covers an area of 5,000 square metres. The plant is scheduled to be finalised early next year, and investments in the construction of the new facility will exceed the 8.5m-euro investments made in the first plant of Dej.
"The second investment we are making in Dej will be bigger because only half the plant will produce cables, while the other half will be used for plastics injection. The ACE group has been involved in this business (plastics injection i.e.) for a long time, which will only be transferred to Romania next year," Barranco told ZF Transilvania.
ACE Romania in the first five months of this year reached turnover worth 6.5 million euros (23.2 million RON), up 30% from the same period of last year. According to the company's representatives, this progression was generated by the new partnership with Renault and also by the increase orders from some older customers, such as Citro?n and Seat.

ACE Romania
Started building the second production facility in Dej, with investments to be bigger than the first facility
In the first 5 months of 2006 derived turnover worth 6.5m euros (23.2m RON), up 30% from the same period of last year
Its advancement was generated by the new partnership with Renault and the rise in the number of orders from some older clients