Japan's JTEKT to Expand Romanian Bearings Factory
BUCHAREST (Romania), July 29 (SeeNews) - Japanese machinery engineering company JTEKT Corporation plans to expand the production activities of its Koyo Seiko bearings factory in Romania, Romania's trade ministry said.
JTEKT Corporation plans to start the production of automotive parts to be exported to Toyota Motors Czech Republic, the Romanian trade ministry said in a statement on Friday.
According to Romanian media reports, JTEKT Corporation plans to invest 125 million euro ($139 million) in the project.
JTEKT Corporation was established in January 2006 through the merger of Koyo Seiko and Toyoda Machine Works.
Koyo Seiko operates a factory for the production of bearings in the Romanian town of Alexandria. The factory currently has 1,332 employees and covers 341,000 square metres, according to data from the corporate website of Koyo Seiko.
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