Danish group invests EUR 50 mln in stone wool plant in Romania

Danish group Rockwool will invest EUR 50 million in a stone wool plant in Romania. The factory will be located on a 30-hectare land plot in the village of Aricestii Rahtivani, near Ploiesti. It will create 150 direct jobs and another 300 indirect jobs for services and logistics, according to the company. This is the group’s first investment in production in Romania. The production of stone wool at the new plant will start in 2019. The Danish group has been active in the local market for almost 20 years. Its local subsidiary recorded a turnover of RON 62.2 million (EUR 13.3 million) last year and losses of RON 4.4 million (EUR 945,000). In February, the Rockwool group announced its intention to buy land to expand its production in the United States, Sweden and Romania. The company has been involved in projects such as the renovation of the Paris Eiffel Tower, O2 Arena in London and the Hong Kong Airport. editor@romania-insider.com