Ramnicu Valcea, Romania – PU and PIR sandwich panel maker Topanel is planning to invest EUR 9m in a new production facility in central Romania.
The plant will cover 8,000 m2. It will be smaller than the company’s existing 11,500 m2 factory. However, according to the company's president, Sorin Boureanu, it will have a higher production capacity.
The the company says that the EU could fund about 65% of the project. The balance would come from company funds at the Romanian manufacturer.
'We have already prepared the project, and now we only have to submit it to the [EU] funds,' Boureanu told local daily newspaper Ziarul Financiar.
If the company's funding bid is successful, this would mark its second project carried out with the use of EU funding. It has already been awarded a EUR 1.4m grant to increase production capacity in Ramnicu Valcea.
In 2018, the Romanian business produced about 2.5m m2 of panels. This year, it aims to further increase its output to about 3m m2, Boureanu said. The business reported 2018 sales of RON 180.6m (EUR 38.15m).
Ramnicu Valcea is located about 174 km north west of the country’s capital, Bucharest.
XE Conversion Date: 17 July 2019