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Romania generates 60% of ACE Automotive's turnover

Romania generates 60% of ACE Automotive's turnover
10.08.2007, 20:29 5

ACE Romania, the domestic division of the Spanish producer of electric automotive components, accounted for 60% of the group's total turnover last year, which stood at 120 million euros.
The group's management forecasts a 150 million-euro turnover for this year, up 25% against 2006.
The management of ACE Automotive Group announced that the expansion of its Romanian subsidiary would continue over the next few years, with the Spanish group currently seeking a location for the new plant.
At present, ACE Romania has 3 production facilities, in Cluj-Napoca, Dej and Campeni (Alba county), with the first two being greenfield investments, while the third location is rented.
"Romania is a place where we want to be present for a for a long period, although lately, problems have started to arise, especially regarding the workforce market. This is the reason why we are looking for a new production location, in an area where it would be easier for us to find people," said Pilar BudŽ, president and CEO of the Spanish group ACE Automotive, in her first interview with a Romanian publication.
According to BudŽ, Romania is currently a "fashionable destination" for many investors, but this will not last for much longer, if the authorities fail to take steps to maintain the attractiveness of the local market.
"On the automotive market, expansion is very important because there are several of us in this field. Under the circumstances, production costs are decisive, this being one of the reasons why most companies have relocated their production facilities towards the East," specified the president of ACE Automotive Group.
Last year, the management of the Spanish group decided to sell part of the business to the Japanese group Fujikura, with a view to maintaining the company's competitiveness.