Household appliances producer De'Longhi buys Nokia's factory in Romania
Household appliances producer De'Longhi has agreed to buy Nokia's production facility in Romania, after the Finnish mobile phone producer decided to close down the factory and relocate production from its facility at Jucu, in Cluj county. The transaction is expected to be finalized during the first quarter of 2012. The terms of the deal were not disclosed.
De'Longhi plans to make the facility a key part of its development strategy, aimed at supporting its fast-growing international presence, according to a recent statement. The facility will also enable the company to partly re-balance its manufacturing structure from the Far East to Europe, where De'Longhi already operates a plant in Italy.
De'Longhi, known for its coffee machines, kitchen products, and home appliances, has a yearly turnover of around EUR 1.4 billion and is listed on the Milan Stock Exchange.
More about Nokia's factory shutdown in Romania here.
Corina Saceanu, firstname.lastname@example.org
(photo source: De'Longhi)