Italian agricultural machinery producer gets loan from Romanian bank

Maschio Gaspardo, an Italian producer of agricultural machinery that owns a plant in Western Romania, has received a EUR 14 million loan from the Romanian state-owned bank Eximbank. The company will use the money to finance its current activity and investment program. The Italian firm owns a factory in the village of Chisineu-Cris, Arad county, which produces various equipment for agrimotors, such as scarifier tools, disc harrows, cultivating racks, and baling presses. “We have chosen Romania as a location for our operations since it ensures easy access to key markets in Central and Eastern Europe and we are determined to continue our investments here in order to consolidate our top position on the market. At present, we have a EUR 10 million on-going project for extending the production facility in Chișineu-Criș with a new production hall of more than 8.600 sqm with the respective specific equipment and tools for producing and assembling the agricultural equipment,” said Mirco Maschio, President of Maschio-Gaspardo Group. The group’s local subsidiary had a turnover of EUR 36 million and 284 employees in 2016. editor@romania-insider.com (photo source: Maschio Gaspardo Romania on Facebook)