Italian company invests EUR 14 mln in new factory in Romania

Italian group Guala Pack, which produces flexible packaging for the food and pharmaceutical industries, will invest EUR 14 million in a new production unit in Romania, Profit.ro reported.

The group has been present in Romania since 2011 with a factory in Nabab, close to Arad, in the western part of the country.

The new unit in Romania is part of the Italian company’s investment plan that targets the expansion of its business in Romania and neighboring countries. The investment will be financed with a bond issue worth EUR 14 million, fully underwritten by Italian state-controlled financial group CDP.

Guala Pack’s Romanian subsidiary had a turnover of over EUR 35 million and a net profit of EUR 2.1 million, with about 270 employees, according to official data.

(Photo: Gualapack Nadab Facebook Page)