European Bank Loans Swiss Firm €25 MM for Aluminium Profiles Plant in NW Romania
22 November 2017 by Staff
The European Bank for Reconstruction and Development (EBRD) announced last week that it will finance a loan of €25 million to a Swiss firm for the construction of a new aluminium profiles and tubes plant in northwestern Romania.
Alu Menziken SRL, a subsidiary of Swiss industrial group Montana Tech Components AG, plans to build a €44-million resource-efficient plant in Medieșu Aurit for the production of aluminium profiles and tubes for automotive applications. The company says it will partner with local universities and trade schools to train local workers in the techniques they require for the plant.
EBRD Director and Regional Head of Romania and Bulgaria Matteo Patrone says that the project will help lift Romania’s standing as a leader in the European manufacturing sector.
“This new investment is part of the EBRD’s efforts to drive job-generating foreign direct investment in Romania and enhance the competitiveness of companies shaping local industries and the workforce. The continuous increase in investment by Montana Tech Components AG proves that Romania is successfully building its brand as a favourable investment destination, in particular in the manufacturing sector. The EBRD is proud to be part of these efforts.”
Montana Tech Components, which has been a frequent partner with EBRD in the past, was founded in 2006 but has origins in much older firms, including VARTA AG, which traces its roots back over 125 years, and Alu Menziken, which has a foundation laid 115 years ago. The company operates over fifty sites on four continents and employs around 6,500 individuals.