Honeywell has three plants in Romania (Bucharest, Lugoj and Ploiesti) and is using 3,000 square meters in Floreasca Business Park for its local headquarters. It is also renting 5,000 square meters for a services center in the UpGround complex of RREEF (Deutsche Bank) and Ioannis Papalekas.
The U.S. company was looking to consolidate and expand operations, so it signed a lease for 11,000 square meters in BOC, UpGround, the largest office building in Bucharest with its 58,500 square meters. The additional 3,000 square meters will allow Honeywell to accommodate 300 more employees, ZF has calculated.
Honeywell will move into the new space at the end of 2013 or in the first quarter of next year, the representatives of Jones Lang LaSalle, the real estate consultant that assisted it in the deal, told ZF.
Honeywell makes turbocharger systems for engines at its Bucharest plant, brake pads in Ploiesti and smoke and fire detectors in Lugoj. It is also developing a regional service center. It was the sixth largest exporter in Romania last year, when it posted revenues of over EUR110 million and had almost 1,800 employees.
(English version by Loredana Fratila-Cristescu)