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Sibiu Fortress & Historic Center//Cetatea Sibiului-Centrul Istoric(Hermannstadt) UltracentralThe city was founded in 1190 by Saxon colonists settled in the area. It was probably built near a Roman settlement, one that would have come to be known during early medieval age as Caedonia, which might have been deserted at the time of the Saxons' arrival.
In the 14th century, it was already an important trade center. In 1376 the craftsmen were divided in 19 guilds. Sibiu became the most important ethnic German city among the seven cities that gave Transylvania its German language name of Siebenbürgen, and it was home to the Universitas Saxorum, the Assembly of Germans in Transylvania. Common opinion in the 17th century ascribed Sibiu the quality of being the easternmost city to be part of the European sphere; it was also the eastern terminus of postal routes. During the 18th and 19th centuries the city also became one of the most important centers for ethnic Romanians in the region. The first Romanian-owned bank had its headquarters here (The Albina Bank), as did the ASTRA (Transylvanian Association for Romanian Literature and Romanian's People Culture). After the Romanian Orthodox Church was granted status in the Habsburg Empire from the 1860s onwards, Sibiu became the Metropolitan seat, and the city preserved its title as the third most important center for the Church in modern Romania. Between the 1848 Hungarian Revolution and 1867 (the year of the Ausgleich), Sibiu was the meeting-place of the Transylvanian Diet, which had taken its most representative form after the Empire agreed to extend voting rights in the region. After World War I, when Austria-Hungary was dissolved, Sibiu became part of Romania; still, the majority of its population was ethnic German and Hungarian. After 1990 most of the city's ethnic Germans emigrated to Germany. Among the roughly 2,000 who remained was Klaus Johannis, who is currently mayor of Sibiu. As of approximately 2002, Sibiu has a population of about 170,000. The ethnic breakdown is as follows: * Romanians 95% * Hungarians 2% * Germans 1,6% * other 1,4% Most of the population is of the Romanian Orthodox religion. Protestants and Roman Catholics represent 4% of the population. * 25% of the population are over 50 years old * 18% of the population are college or university graduates Sibiu is one of the most prosperous cities of Romania, and also receives one of the highest rates of foreign investment in the country. It is an important manufacturer of automotive components (Bilstein-Compa, Takata, and SNR Roulments). Other local industries are machine components, textiles, agro-industry, and electrical components (Siemens). It also contains Romania's largest stock exchange outside of Bucharest, the Sibiu Stock Exchange.
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