Turkish group Borusan announced it completed investments in a EUR 15 million pipe factory that will produce elements for automobile shock absorbers in Romania, near Ploiesti. The investment was supported by a EUR 5.83 million state grant.
After the company gradually begins operations, it expects to generate USD 8 million (EUR 7 million) in revenues in the second half of this year, according to Economica.net.
The production capacity of the 4,800 square meters factory, operated by Borusan Tube Products (Romania), owned by Borusan division Borusan Mannesmann, is 21 million pieces per year.
The production will be exported mainly to Eastern Europe.
iulian@romania-insider.com
(Photo source: Jamaludin Yusup/Dreamstime.com)
