April 19 (SeeNews) - Romanian pavers maker Symmetrica will invest 10 million euro ($10.8 million) in an overhaul of its plant in Veresti, in Suceava county, which will result in a 50% increase of its production capacity, the company said on Tuesday.
The company expects a 25% increase in turnover in 2022, from 180 million lei ($39.4 million/36.4 million euro) booked a year earlier, it said in a press release.
“The production unit in Veresti is our first factory, and since its opening in 1999, it has undergone several modernisation projects. However, having operated for 23 years and given the current market conditions, we decided to make a major investment and change our production lines completely,” Symmetrica executive director Sebastian Bobu said, as quoted in the press release. The factory has two production lines.
Last month Symmetrica said it is investing 3.5 million euro in the launch of a new plant at Solca, in Suceava county, and in the expansion of production at its Prejmer, Brasov county.
In 2021, the company said it was planning to invest up to 9 million euro in new production lines at five of its seven factories. Symmetrica also opened a new factory in Arad county last year, investing 6 million euro in it.
According to finance ministry data, Symmetrica recorded a profit of 19.29 million lei on a turnover of 162.18 million lei in 2020.
Established in 1994, Symmetrica has production facilities in the Romanian cities of Arad, Suceava, Brasov, Ilfov, Iasi, Bistrita and Vrancea.
(1 euro = 4.94 Romanian lei)