Italy's Battistero to invest 50 mln euro in factory in Romania - Cluj county

The factory will be located in the industrial park Tetarom III, will span an area of 28 hectares and will create 500 jobs, the council said in a statement.

The contract will be signed within the next days and production is planned to start in the middle of 2013.

The output of the factory is seen at 30-40 million euro in the first year of operation and is expected to grow to at least 100 million euro by 2015.

Parma-based Battistero makes traditional Italian Christmas and Easter cakes, called panettone. Besides panettone, te Romanian factory will also produce other bakery products, such as biscuits.

($=0.7651 euro)