Sep 29, 2010
P&G opens 100-million-dollar plant in Romania
Sep 29, 2010
URLATI, Romania, Sept 29, 2010 AFP © - US consumer products giant Procter & Gamble on Wednesday opened a 100-million-dollar (73-million-euro) hair-care plant at Urlati, in southern Romania, Procter chief executive Bob McDonald said.
Romanian President Traian Basescu (L) and Bob MacDonald, President and Chief Executive Officer of P and G. Photo : AFP
"This is one of P&G's most advanced plants in the world, in terms of both technology and sustainability" McDonald said.
The plant has four production lines and employs 250 people.
Some 90 percent of its production will be exported to countries in the region but also to Russia and Turkey.
The company already owns a detergent plant in Timsoara in which it has invested 40 million dollars.
Despite the crisis, "we had a very good start in the 2010 fiscal year, in line with expectations," Sotirios Marinidis, manager of P&G Romania, told AFP.
In 2009, when the Romanian economy shrank by 7.1 percent, the company posted "modest, single-digit growth" here.
"This plant is an example in terms of water and waste treatment," environment minister Laszlo Borbely said.
"The opening of the P&G factory shows foreign investors still have confidence in Romania," president Traian Basescu stressed.
But direct foreign investments in the Balkan country have contracted by nearly a third in the fist half of 2010, to 2.4 billion dollars.
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