German automotive parts company Continental has started works on expanding its office building in Iasi, a project expected to be completed by March 2020.
The total investment in the expansion will reach EUR 27 million and will include space for 1,700 workers as well as a product testing and validation area. The total built area reaches 21,000 sqm.
Continental has 7 production units and four engineering centres in Romania – in Timisoara, Sibiu, Carei, Nadab, Brasov, and Iasi. It is also a partner in two joint ventures in Iasi and Slatina and has a tire distribution centre in Bucharest.
At the end of 2018, Continental had over 20,000 employees in Romania, a third of whom were engineers and computer scientists.
The company was founded in 1871. Globally, it had a EUR 44.4 billion turnover in 2018 and has about 245,000 employees in 60 countries.