Swedish chemical detection equipment producer sets up subsidiary in Romania

Swedish company Serstech, a provider of solutions and devices for detecting chemical substances, has opened its first subsidiary abroad, in Romania.

The company wants to expand its operations in Romania quickly to capitalize on the lower labor costs compared to those in Sweden, Profit.ro reported.

The company's revenues were SEK 24.24 million (EUR 2.26 mln) last year.

The Romanian subsidiary Serstech Development was established in Cluj-Napoca, with an initial team of 10 programmers, with whom the Swedes had previously collaborated. The subsidiary was created "to retain and recruit highly qualified IT engineers" who are increasingly difficult to find in Lund (a city in southern Sweden, where the company is headquartered), according to Serstech.

Founded in 2006, Serstech provides solutions for the identification of chemical agents, in particular to customs authorities, police forces, and security organizations. The company brought the former Supreme Commander of the Swedish Armed Forces, Reserve General Sverker Goranson, in its Board of Directors. Its shareholders include BNY Mellon and Deutsche Bank.

(Photo source: Twitter/Serstech AB)