Sipex wants to build a factory in Ariceștii Rahtivani

by   CIJ News iDesk V
2024-02-01   09:30

Building materials distributor Sipex plans to open its own factory, with the source of funding to be non-reimbursable funds.

"We have moved forward with the analysis for opening a production facility with non-reimbursable funds and will announce further details later this year. This is an investment we want to finance under the project announced by the Romanian government to support local EUR 150 million in the first year. We are working with a consultant to finalise all the necessary documents. We want to expand our presence in a new sales channel, with a new product, manufactured by us," says Irinel Gheorghe, CEO and majority shareholder of Sipex.

In order to implement this plan, the company bought last year a land of almost 75,000 sqm in the commune of Ariceștii Rahtivani in Prahova county. Sipex's headquarters are already located there.