Hexing's Senior Vice President, Mrs. Jessica Fan, commented on the investment, saying, "Establishing a facility in Romania aligns with our company's long-term vision of building a greener world. We are proud to play an active role in the digital development of Europe's smart power systems and to contribute to the local community by creating valuable job opportunities. We're in the midst of an intense recruitment process right now."
The Timisoara I Industrial Park, owned and operated by Globalworth, is strategically located near the international airport, and offers high-tech buildings for manufacturing, warehousing, and logistics operations. Currently almost exclusively leased, it hosts companies such as Continental, Litens Automotive, Valeo, Coca-Cola and now Hexing Romania, and in the future could accommodate another 28.5k sqm GLA through expansion.
"Our community is not only getting stronger by having Hexing but is also continuously refining its standards on working conditions. With this cutting-edge facility, we are unboxing the future of I&L spaces and features and this aligns perfectly with our committed pursuit of innovation, sustainability, and customer satisfaction, aiming to set new standards in the Logistics and Industrial sector." stated Mihai Zaharia, Head of Investments Romania and Group Capital Markets Director at Globalworth.
The Hexing facility which is founded on respect for the principles of local delivery, local service and complete supply chain is scheduled to commence operations in the second quarter of 2024. The facility is anticipated to generate high-value employment opportunities, with support from the local government through state aid initiatives aimed at fostering job creation. The collaboration between Hexing Technologies Europe SRL exemplifies a shared vision of driving economic growth and fostering technological innovation in the region.
The project has been made possible through great synergies between partners including CBRE Romania, who advised Hexing on the optimal factory location making the best out of the unique blend of international expertise with local in-deep knowhow of the market and the players, and Invest Romania, the “one-stop-shop” for foreign investors, assisting and advising international companies for project implementation in the country, part of the Romanian Agency for Investment and Foreign Trade.
"Timis is probably the most sought-after market by energy players, who have reached a level of maturity which requires already production facilities, not just energy land" explained Mădălin Aresmerițoaie, Senior Consultant Industrial & Logistics Services, responsible for the West/North-West market at CBRE Romania. "The Manufacturing sector is growing, returning to the pre-pandemic trend which is a sign of Romania's health - in 2023 we recorded 18% of total leasing activity. We are pleased that we have designed the best scenario for Hexing, helping them to identify the optimal location both in terms of current scale and expected growth in the coming years."
The establishment of this facility aligns with the Romanian regulator ANRE's 2019-2028 smart meter development directive, further emphasizing Hexing's contribution to the advancement of Smart Grid 2.0.
This strategic initiative underscores Hexing Europe's commitment to becoming a leading local manufacturer within the European Union while fostering technological innovation in the region. The facility's advanced manufacturing capabilities will ensure shorter delivery times, catering to the demands of both the local market and beyond.
Through the establishment of this facility, Hexing Europe will forge a close partnership with local partners. This collaboration will enable Hexing Technologies Europe SRL to provide enhanced pre-sales and after-sales support, contributing to the seamless integration solutions in Romania and other European Union countries. Furthermore, the facility's advanced manufacturing capabilities will ensure shorter delivery times, catering to the demands of both the local market and beyond.
Largest regional logistics hub gathering 1.7 mln. modern sq m, the Western / North-Western sub-market accommodates through important cities such as Timisoara and Cluj-Napoca both developers and tenants internationally renowned, enjoying country's western border proximity. Skilled labour force and the gate to Western Europe, makes the West / North-West area the most sought after regional sub-market by developers and investors.
Timis county claims the largest share of modern industrial stock region wise and hosts numerous production, logistics and storage facilities where developers capitalize on the synergy created by the strategic location, infrastructure, and skilled workforce and 87% of the modern stock is class A. Also, the West / North West part of the country is set to be the largest recipient of the future new supply, respectively 45%, followed by Bucharest with 32% and East / North East region with 14% from the total.
