The property, with a total surface of around 27,000 sqm, includes a production facility and a land plot in Chisneu Cris, Arad (western Romania). The sale and purchase transaction was mediated by real estate consulting firm JLL acting on behalf of the current landlord, JLL said in a statement Wednesday.
Kromberg&Schubert currently manages four operations in Central and Western Romania (Sibiu, Medias, Timisoara and Chisineu Cris). The factories produce high quality electrical systems for the automotive industry. During their activity in Romania, the company has helped developing the local communities through financial, logistic and human resources investments, generating jobs and offering modern working conditions for the employees.
“The proximity to the pan-European corridors, and the availability of qualified engineers and workers in Western Romania constitute present arguments for foreign production companies as well as investors for expanding in Romania. This transaction proves the confidence of the German company into the long-term future of the Romanian industrial & labour market and we expect further entries in the following period. We are currently dealing with several enquiries from other companies that explore this possibility,” Cristina Pop, Head of Industrial Agency for JLL and responsible for closing this transaction, said in the statement.
“Kromberg & Schubert is very satisfied with the performance of its Romanian manufacturing operations over the years, so they decided to establish their operations permanently in Chisineu Cris and to expand the current production capacities. The fact that they already have the trained employees and developed infrastructure constituted the argument for buying the current property, instead of relocating,“ Cristina Pop concluded.
Paul Kromberg & Ernst Schubert established the company in Barmen in 1902 (now Wuppertal). With over 26.000 employees in over 30 locations, Kromberg & Schubert is today one of the global leaders in the supply of electrical systems, cables and plastic components for the automotive industry, according to the statement.
The company Solvency Project is held by a company registered in Luxembourg.
JLL is a professional services and investment management firm specializing in real estate.