April 5 (SeeNews) - Austrian concrete products maker SW Umwelttechnik said on Tuesday it is launching the construction of a 1.5 million euro ($1.7 million) plant in Romania, its third in the country.
The production facility will be located in Cristesti, in Iasi county, in northeastern Romania, on a land plot owned by the company for several years, it said in a press release.
"It will be a relatively small business but the geographical location allows us to serve customers locally and to cut transport distances," the company added. So far, the company supplied Moldova region from Bucharest, which is some 400 km away.
SW Umwelttechnik's first plant in Romania has been operating since September 2006. Its second plant, located south of the capital Bucharest, was established in 2007.
The company has some 114 employees in Romania. It manufactures concrete products for construction purposes, products for waste water, tubes, precast parts and floor slaps. It posted a 4.6 million lei ($1.1 million /1 million euro) profit in 2014 on a 58.5 million lei turnover, most recent data posted on finance ministry's website showed.
SW Umwelttechnik Stoiser & Wolschner AG was built as a family business in 1910 in Austria and is listed on the Vienna Stock Exchange since 1997.
($ = 4.4669 euro)