Romania's Comtech opens polyethylene insulation factory

Comtech decided to invest in its own factory for polyethylene insulation due to the high costs of delivering insulation from other factories in Europe, the company said in a statement.

The capacity of the new production unit located in the southwestern city of Slatina will be 30,000 tonnes of polyethylene-insulated steel pipes, the statement quoted Comtech's owner, Constantin Goanta, as saying.

Following this investment, the company's turnover is expected to reach about 32.5 million euro in 2013. Also, starting from next year, a part of new factory's production will be exported to Europe, Middle East, and North Africa.

The investment is expected to be recovered in maximum five years, Goanta added.

($ = 0.7766 euro)