News Article Anamaria Munteanu CTPark Timișoara industrial nearshoring Romania Shengxiang Ye Timișoara
by Property Forum | Industrial

Topband Smart Europe, a Chinese maker of controllers for power tools, home appliances and BMS, has inaugurated its production capacity for the European market in CTPark Timișoara.

The company entered Romania in 2021 and its new production facility will accommodate growing demand from European and global customers.

“Romania and Central Eastern Europe (CEE) in general, with its proximity to Western European markets, are exceptionally well placed for multinationals nearshoring. Benefits such as a strong manufacturing base, a wealth of skilled human capital, attractive labour costs and market connectivity make the region a nearshoring hot spot. Topband’s new production capacity reflects the increased demand for nearshoring, as Asian businesses expand their production capabilities closer to their European customer base, choosing CTPark Timisoara as the place to grow,” said Anamaria Munteanu, Senior Business Developer of CTP Romania.

Until now, Topband Europe’s factory in Timișoara has reached cooperation intentions with over ten international customers after entering mass production in H1 2023. Total investments in the plant will reach $30 million in the future, according to the company.

”Progressing through various stages, Topband solidifies its global presence, navigating the digital, intelligent, and IoT era to create an intelligent and low-carbon world,” said Shengxiang Ye, General Manager TopBand Smart Europe.

CTP owns industrial and logistics spaces with a combined area of 2.6 million sqm in Romania.