March 21 (SeeNews) - Romanian PVC joinery maker Electric Plus, which operates under the Barrier brand, said on Tuesday it plans to invest 10.5 million euro ($11.2 million) this year in a new production facility and software upgrades.
The company plans to invest 10 million euro in a new production facility and another 500,000 euro to implement enterprise resource planning through SAP (Systems, Applications & Products in Data Processing) in 2017, it said in a press release.
In 2016, Electric Plus invested 1.1 million euro, mostly in a residential building with 60 fully furnished and equipped homes for some of its employees.
"In a period when companies are drastically decreasing budgets for wages, other type of incentives could have a major impact. We know that how important it is to retain old employees, who know best the entire production process," the company said.
In 2016, Electric Plus posted a turnover of 23.1 million euro, up 36% year-on-year.
Also last year, Electric Plus opened two new production plants worth 7 million euro in total.
The two manufacturing facilities - an insulating glass plant with a capacity of 1,500 units per day and a plant for doors and halters with a monthly capacity of 2,000 units - are located in the northeastern city of Bacau. With the launch of the two plants, the company completed a 12 million euro investment plan started in 2012.
Electric Plus has been founded 15 years ago by Romanian business man Adrian Garmacea and currently employs 600 people at its production facilities in Bacau.
($ = 0.9297 euro)