Procter&Gamble To Invest over $100 Mln in New Plant in Romania

The greenfield project is expected to become operational in the first half of 2010, Procter&Gamble Romania said in a statement.

The plant will be developed on 25 hectares and will create 300 jobs initially. Its products will be exported on the European markets, it said.

“Romania, thanks to its economic stability and because of its strategic geographical position, the neighbouring rapidly growing markets of central and eastern Europe, is a very good place to invest,” the statement said.

U.S.-based Procter&Gamble (www.pg.com) operates in more than 180 countries worldwide, offering detergents, hygiene products, nappies, cosmetics and snacks.

It entered the Romanian market in 1992. The company’s detergent and bleaching solutions plant in Timisoara, western Romania, started production in 1996, following an investment of $40 million. The plant employs some 390 and exports more than half of its output.

Procter&Gamble also has a distribution centre and a regional service centre in Romania. Its turnover in the EU newcomer exceeded $400 million in 2007.

($=0.6829 euro)