Federal Mogul invests USD 20 mln in Ploiesti factory

Newsroom 05/11/2014 | 15:21

U.S. Group Federal-Mogul will invest over USD 20 million in two new production lines at its friction pads factory in Ploiesti, recently taken over from Honeywell, writes Mediafax.

“We have 271 employees and we expect their number to grow until approximately 340 by the end of next year. Presently we’re working on installing a third production line, for personal vehicles, and a fourth production line, for commercial vehicles, will be installed in 2015”, said Nevill Rudd, vicepresident global facturing for Federal Mogul.

The company official argued that the necessary financing for each line amounts to USD 10 million. On top of that, Federal Mogul will invest in auxiliary equipment, so the total investment will be higher than USD 20 million.

The plant went into production in November 2012 and currently operates only two lines.

Honeywell representatives said in October 2013 that the total investment in the Ploiesti plant was EUR 57 million, out of which EUR 16 million represents financial aid.