By Emea Riga
The Minister for Business Environment met with representatives of the Japanese corporation JTEKT on Wednesday. According to a press release the Japanese company is interested in expanding its operations and production facilities from Koyo Seiko Romania to be able to produce auto parts for Toyota Motors factories in the Czech Republic. The investment value announced in the Alexandria unit is 125 million euros.
The announcement of the investment was launched in the summer, in the context of discussions with a Romanian delegation. “Romania is ready to receive a new important name in the global auto parts industry. The auto industry is one of the engines of Romanian exports. The biggest players in the automotive sector have dozens of factories in Romania, production centers that support entire cities through the orders they receive, ”the Romanian official told the business community in Japan.
JTEKT Corporation is a Japanese corporation established in January 2006 through the merger of two companies, Koyo Seiko Co. and Toyoda Machine Works, with a business over $ 1 billion.
Last year, bilateral trade between Romania and Japan totaled $ 709.7 million, of which Romanian exports amounted to $ 296.1 million, and imported $ 413.6 million. The main Romanian products exported to Japan are wood and wood semi-finished goods, clothing and accessories, electrical machinery and equipment, chemicals, metallurgical products, footwear, glass, ceramics, wines, honey, cosmetics. The main Japanese products imported into Romania are means of transport, electrical equipment, machinery and equipment, metal products, chemicals, optical and photographic instruments and devices.
By Emea Riga