EnglishRenault Mecanique Roumanie SRL, the company that will manage the future Renault gearbox factory in Mioveni, has increase share capital by over 87 million RON by issuing new shares. Shareholders convened in Boulogne - Billancourt, France, on February 28th and decided to increase share capital by 87.88 million RON (26 million EUR / 34.1 million USD). The company is controlled by Renault SAS and Renault Development Industriel et Comercial SA.
Renault Mecanique Roumanie SRL was registered in March 2007 to manage the future gearbox factory that Renault is currently building in Mioveni, Romania. Renault in 2005 announced plans to invest 215 million EUR in a factory to produce gearboxes for Renault - Nissan vehicles. Approximately 650 employees will generate a maximum of 2,000 gearboxes per day.
Renault allocated 28 million EUR last year and will allocate 66 million EUR this year for the project. The carmaker estimates that the future factory will generate sales of 128 million EUR in 2008. The factory will measure 3,500 sq.m. The project has been approved for State aid equal to 17% of the overall value of the investment.
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