March 14 (SeeNews) - Schrack Technik Romania, a subsidiary of Austrian low-voltage electrical equipment group Schrack Technik, said on Thursday it is investing 15 million euro ($16.4 million) in the construction of a new logistics centre and headquarters office.
The project, consisting of a 5,500 sq m warehouse and 3,500 sq m of office space over three floors, will be located in Domnesti, in the southern county of Ilfov, within the Hornbach Militari commercial area, Schrack Technik Romania said in a press release.
The project aims to bolster Schrack Technik's position in the electrical equipment market by enhancing logistical operations and providing an innovative working environment for the company's team. Increased revenues of around 36 million euro in 2023 and a growing customer base also were reasons to go for a new logistic centre, the company said.
Schrack Technik Romania also plans to expand the warehouse by 8,500 sq m in the second phase of the project, aiming to establish itself as a key regional hub serving not only Romania but also neighboring countries, said Iulian Smarandache, director general of Schrack Technik Romania.
Schrack Technik Romania currently employs 107 people and expects to double its workforce in the next five years.
Established in 1998, Schrack Technik Romania has branches in Bucharest, Oradea, Cluj-Napoca, Bacau, Sibiu, Timisoara, and a headquarters office in Craiova. It sells over 35,000 products through its website, generating a third of the turnover of the Austrian group.
($=0.913952 euro)