International Automotive Components Group, IAC, one of the main suppliers of car parts for Ford Motor Company will invest 58 million euro in a factory at Bals, Olt county. The factory will produce various parts for Ford Craiova, the company announced. It will employ 400 employees and the Romanian state will offer 17 million euro as aid for the project.
IAC is the first car supplier to open a Greenfield factory in Romania to sustain Ford factory at Craiova. IAC plans to hire 400 employees. The Romanian state will offer the investors 17 million euro as state aid. IAC Romania will build a factory on 15,000 sq meters.