EMCC European Monitoring Centre on Change

Corratec

Company/Organisation:
Corratec

Geographic Location

Country: Romania
Region: Timis; Vest
Location of affected unit(s): Timisoara

Company

Sector: Manufacturing
Manufacture of transport equipment
30.99 - Manufacture of other transport equipment n.e.c.
Group: Corratec

Employment Effects

Announcement Date: 24-11-2021
Type of Restructuring: Business expansion
Employment Effect Start: 24-11-2021
Foreseen End Date: 31-12-2023
Planned Job Creation: 450

Additional Information

Corratec, a German company that manufactures bicycles, will invest €10 million in a new production facility in Timisoara (Timis County). The company plans to launch production in Romania in February 2022 with an annual manufacturing capacity of 300,000 bicycles. Initially, the factory will generate around 450 jobs over the next 24 months. According to the current business plan, the workforce will increase to a maximum of 600 employees.

With the new facility in Timisoara, Corratec will add production capacity of around 300,000 electric bicycles to its existing factory in Raubling, Germany. Production of state-of-the-art custom-made bicycles will remain in Germany.

The company was established in 1990 in Raubling, Germany.

Sources: