The company posted overall turnover of RON86 million (EUR19.7 million) in 2010, 76% more against the results obtained in 2009, according to data from the Finance Ministry website.
Star Transmission Cugir manufactures components for gearboxes and engines for clients such as Daimler (the manufacturer of Mercedes-Benz), JTEKT, Schmidt, Kuka and Mitec.
“At present the evolution of the market is stable, but there is the risk of the market falling because of the situation in the European Union. We have two plants on the Romanian market and we don’t intend to expand our activity for the time being,” representatives of Star Transmission Cugir said.
The company has been present on the Romanian market since 2001, when a joint venture was created between German group Daimler AG and national company Compania Nationala Romarm (controlled by the Economy Ministry). But Daimler entered the Romanian market back in 1996, to cooperate with Romarm (through Uzina Mecanica Cugir) and manufacture gearbox parts for Mercedes-Benz A Klasse cars. At present, the German company own two plants on the Romanian market through Star Transmission Cugir, in Cugir and Sebes.
The company management says it will continue to recruit in the near future, with several engineering job openings posted on the STC website.
The company’s monthly manufacturing capacity is around 600,000 parts. Star Transmission Cugir has 650 employees, 100 of whom work for the company’s Sebes plant, which was opened last year. According to previous information, the investment announced initially by Daimler in Cugir amounts to EUR10 million.
In 2010, Star Transmission Cugir cut its loss to RON3.4 million (EUR0.8 million) after in the previous year the company had recorded losses of around RON9.3 million (EUR2.1 million), according to the website of the Finance Ministry. The company’s average number of customers went up from 427 in 2009 to 490 last year. (EUR1=4.3487)
(English version by Daniela Stoican)