Sterk Plast, a major Romanian producer of plastics manufactured goods located in Constanta county, was extended a EUR 2.5 million state aid to partly finance a EUR 5 mln project to expand its new factory located in Medgidia, Ziarul Financiar reported.

The money will be used for purchasing new equipment that will increase the capacity and broaden the portfolio of products.

Higher production capacity will result in more exports, estimated for this year at 40% of the total sales and directed to markets such as Bulgaria, Germany, Great Britain, Greece, Hungary, Poland, Moldova, Ukraine, or Russia. Sterk Plast's total investments in Romania so far amount to over EUR 20 mln and will continue growing in the coming years," said Suleyman Islambay, Sterk Plast administrator.

Sterk Plast SRL, founded in 2000, in Constanta, by two entrepreneurs of Turkish origin, is specialized in the production of plastic goods. It started in 2015 a large investment project in a new factory with an area of over 42,000 square meters in Medgidia, Constanta County.

The factory became operational in 2018. The company has over 450 employees and reported a turnover of about EUR 27 mln in 2020.

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andrei@romania-insider.com