Romania's Faist Mekatronic to spend 10 mln euro on raising capacity - report

Romanian supplier of components for the telecom and auto industries, Faist Mekatronic, part of UK-based group Faist, has earmarked 10 million euro ($11.3 million) for investments this year to increase its production capacity, Bucharest-based media reported on Friday.

The company will complete the expansion of its plant in the northwestern town of Oradea in the first half of the year, following an investment of 3 million euro, financial daily Ziarul Financiar quoted the company's head, Remus Cotut, as saying.

The plant's area will thus be expanded to 25,000 sq m from 16,500 sq m.

Faist Mekatronic will spend another 7 million euro on new equipment.

Last year, the company spent about 8 million euro on new equipment, raising the plant's capacity by 20%.

($ = 0.8821 euro)

Choose your newsletter by Renewables Now. Join for free!