Portuguese Group Coindu expands its business in Romania

Portuguese Group Coindu expands its business in Romania

 

Review Hari Stefanatos

The portuguese company Coindu that produces textiles for the audio industry is planning to open a new factory in Drobeta Turnu Severin, according to local authorities and is about to start a hiring campaign.

What will be a €10 million investment is expected according to company officials to create 1,200 new jobs, bringing the total number of employees Coindu has in the country to 2,200. The currently owns a factory in Curtici, in Arad county.

Coindu Romania SRL plans to hire 450 employees in 2014 with the prospect of hiring another 800 in 2015, according to what Drobeta Turnu Severin’s deputy mayor, Marius Screciu, quoted as saying to Agerpres newswire.

The factory will be built on a 4.5 hectare area the company has bought in Drobeta Turnu Severin and is expected to cost €10 million, with the municipality agreeing to provide utilities for the new industrial platform.

Coindu produces leather, fabric and PVC upholstery for car interiors for clients such as BMW, Volkswagen, Audi and Mercedes. The Coindu factory in Curtici last year generated a turnover of EUR 52.8 million and a net profit of EUR 2.1 million. It currently has more than 1,000 employees.

(Source: Romania-Insider)