May 12 (SeeNews) - Turkish fiberboard manufacturer Yildiz Entegre said on Thursday it has invested 150 million euro ($163 million) in a factory in southern Romania which it plans to inaugurate by the end of this year.
The 460,000 sq m factory in Oarja, in Arges county, will employ some 450 people, the company said in a press release. Besides medium density fiberboard (MDF), the factory will also produce laminate flooring, impregnated decor paper and MDF doors.
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The factory is the company's first in the EU and will serve as one of the centres for its operations abroad.
Yildiz Entegre also said it plans to acquire some 800,000 cubic meters of wood per year from Romania to sustain production in the new factory.
The company will also build a day-care centre for children aged up to three years in Oarja, Yildiz Entegre Romania general manager Mustafa Korkmaz said.
Besides Turkey, Yildiz Entegre is present in US and Russia and employs over 3,000 globally. The company is a flagship division of Yildizlar Yatirim Holding, one of the biggest corporations of Turkish industry.
($=0.9198 euro)