German auto component maker opens €30m plant in Moldova

German automotive component manufacturer Dräxlmaier has opened a new €30-million facility in the Cahul free-economic zone of Moldova. It is the company's third plant in the country, the economic ministry has said.

The new facility, which will exceed 17,000 metres, will employ over 1,500 people and will specialise in the manufacture of electrical cable systems for cars.

"The number of employees will increase in the coming years, which will allow us to carry out other projects," Dräxlmaier head of operations for Eastern Europe, Kai Mussman, said.

The German firm already operates two auto cable plants in the northern city of Balti. The first was built in 2009 with the second being completed in 2011 following an investment of €30-million. More than 3,500 people work at the two plants in Balti.

Dräxlmaier, founded in 1958, currently has more than 60 factories in 20 countries worldwide and a staff of 55,000.

Elsewhere in Southeastern Europe, the company is present in Romania, Serbia and North Macedonia.

Cahul free economic sub-zone was constituted on November 20, 2015 within the free economic zone of Balti. 

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