,, In the light of foreseeable strong growth in our business fields and especially in the e-mobility business unit, we came to Moldova for the first time in February 2019 in search of a new, cost-effective location for assembly activities. We were positively surprised and within a year, with the active support of the Moldovan Investment Agency, Giz Moldova and FEZ Administration in particular, we were able to find Magnetec Components SRL and start production in April 2020. Thanks to well qualified and engaged employees, the development of the plant in Balti continues almost as planned, despite the considerable restrictions caused by the corona virus. Due to the positive development and the very motivated and good skiled people, we consider now as well the motivated and good skilled people, we consider now as well the transfer of some engineering and development activities into this location, partly with a worldwide responsibility for the MAGNETEC group.”