Italian furniture producer borrows EUR 10 mln from Romania's Eximbank

Furniture producer Italsofa Romania took a EUR 10 million credit line from local lender Eximbank. It will use the money to carry out its current activity, according to the bank. The company, which is part of the largest Italian furniture producer Natuzzi, has a plant in Baia Mare, north-western Romania, which covers over 76,000 sqm and employs over 1,200 people. The group is implementing a new production process at the Baia Mare plant. This integrates all the activities necessary to achieve the finished product into one technological line, similar to the auto industry model. The factory produces sofas and is one of the biggest greenfield investments in this sector. The investments in the plant have exceeded EUR 38 million since 2001. Italsofa is the second biggest furniture exporter in Romania. The company had a turnover of EUR 68 million in 2014. editor@romania-insider.com