Elektrokontakt Romania to receive state aid for an 18 million Euro investment
2015-10-18 18:56:16 - From the Print Edition
EKR Elektrokontakt Romania, manufacturer of cabling solutions for the automotive industry and part of the German group Nexans, will receive state aid of nearly 40 million RON (almost nine million Euro) for an investment of 80 million RON (roughly 18 million Euro) in Targu Jiu, Gorj county, an investment which would create more than 800 jobs, according to Ziarul Financiar. EKR Elektrokontakt also owns three factories in Romania; in Santana, Chisineu and Pancota, all in Arad county. The three factories include 2,050 employees, while last year the manufacturer had a turnover of 99.6 million RON (around 22.4 million Euro) and a net profit of almost 1.6 million RON. In 2013, the company had 1,881 employees, a turnover of 88.2 million RON (about 19.8 million Euro) and a net profit of two million RON. Elektrokontakt Romania started its activity in Romania in 1996 in Santana, Arad, and the companies it supplies include BMW Group, Daimler, VW Group and General Motors.
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