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Tuesday, November 16, 2004

Celestica to invest $100 mln in Romania

BUCHAREST, Nov 15 (Reuters) - Canadian electronics maker Celestica Inc. plans to invest around $100 million in a new plant in Romania as part of its expansion in eastern Europe, Romania's Foreign Investment Agency (ARIS) said on Monday.

It said in a statement that Celestica plans to invest $25 million in the first phase of a plant in the north-western county of Bihor next year and that it would invest around $15 million each year over the next five years.

ARIS said Celestica plans to build a factory with four units, which would become fully operational by 2007.

Celestica officials estimate a turnover of around $300 million for the first year when unit one of the new factory would become operational, ARIS said.

It said total turnover when all four units will be functional was estimated at over $1.0 billion.

Posted by Mihai : 11/16/2004 01:46:00 pm