INA Schaeffler KG (Germany) is reportedly in the final stages of planning a major new manufacturing plant in Romania.

Company officials have been scouting locations in the city of Brasov large enough to accommodate the operation. The new facility is expected to be at least 100,000 square meters and cost over USD $150 million.

Romanian officials are claiming initial employment would be at least 1,000 and eventually rise to over 3,500.

INA, the world's second-largest bearing company since its acquisition of FAG, now employs 55,000 people in 50 facilities around the world. It currently has two other central European manufacturing locations: Slovakia and Chechnia.

Taking over the state-run bearing manufacturer, Rulmentul S.A. Brasov, was reportedly encouraged by Romanian officials but quickly rejected. Rulmentul Brasov, with 35% market share, is Romania's largest bearing manufacturer and was privatized in 2000.

Although INA rejected an outright takeover of Rulmentul Brasov, officials say the company did not rule out the possibility of a future joint venture.