Italian group GDS Manufacturing builds new factory in Arad
Italian company Global Display Solutions (GDS) Manufacturing Services, which has operated an electronic equipment factory in Arad, western Romania, since 2004, will invest EUR 6.4 mln in a new factory.
Of the total investment, EUR 4 mln will go to the new premises, the price including renovating an existing building and adapting it to production needs, Economica.net reported.
Another EUR 1.4 mln will be spent this year to purchase production equipment, and, separately, EUR 1 mln will be invested in 2022 and 2023 in a photovoltaic system installed on the new building.
The investment was approved on March 21 by the company's Extraordinary General Meeting. To support it, the shareholders approved contracting loans in the total amount of EUR 3.5 mln.
According to the latest available data, GDS Romania reported RON 52.7 mln (EUR 11.3 mln) and RON 0.38 mln net profit in 2020.
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