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Nexans drops plans for Romanian cable factory

Nexans' German subsidiary of Nexans Autoelectric, has dropped its plans to establish a cabling systems facility in Targu Jiu, Romania.
Local media reports that the investment was halted due to financial reasons. However, the company will be fined RON 100'000 (roughly EUR 22'500), as other companies might have used the area for other ventures, according to a report in the Romania Journal.

Construction of the facility was scheduled to start in September, with work being carried out over the course of the following 12 months. It was reported that the new facility was to create a further 2'000 jobs for the region.


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