Arctic to build washing machine factory in Romania if it gets state aid
Arctic Gaesti, the largest producer of home appliances in Romania, will build a washing machine factory in Gaesti, Dambovita county, with EUR 100 million, but only if it receives a EUR 37.5 million state aid, according to a company’s document.
The producer, which is part of the Turkish group Acelik, already has a plant in Gaesti that produces refrigerators and freezers.
The company plans to use the profit obtained in the previous years to build the new factory. This would be the first washing machine plant in Romania in many years, after the Albalux brand had disappeared from the market.
Arctic’s local plant produced 1.9 million refrigerators last year, 1.6 million of which were exported. However, its total production capacity amounts to 2.6 million units.
The Turkish group Acelik has invested over EUR 110 million in the plant, since taking over the appliance producer in 2002.
Arctic is one of the oldest Romanian brands and one of the few that have managed to adapt after communism and remain in the market.