Portuguese continue to invest in car parts

The Portuguese car parts manufacturer Coindu will complete the second stage of an investment worth some 25 million euros carried out in the Curtici Arad Free Zone (ZLCA) by the end of this year, while its sub-supplier – Ert – will invest 10 million euros in the same location this year. Specialized in producing leather and imitation leather covers, Coindu was granted concession of a four-hectare plot of land in the Free Zone for a 49-year period. According to the ZLCA management, about seven million euros were allocated to the preliminary stage of development for the new production facility, with completion of the project due in July 2007. The final number of employees is estimated to reach some 1,200 people after the project”s conclusion. Coindu owns two plants in Portugal, with its market consisting of car and aeroplane manufacturers from Austria, Sweden and France. The company”s annual sales stand at over 100 million euros. The investment conducted by Coindu in the area also attracted a project from another Portuguese company, Ert, which produces polyurethane foam for the car industry. Ert announced it would invest 10 million euros in building a factory this year. ZF