about us | newsletter | contact | archive | members area
Bogdan Nitulescu, Tremend
Cryptocurrencies volatility is a big problem»
  News:      POLITICS   |   ECONOMICS   |   ENERGY   |   INVESTMENTS   |   APPOINTMENTS   |   GREEN   |   INFRASTRUCTURE   |   REAL ESTATE   |   AGRIBUSINESS   |   DRIVING   |   CITY LIFE   |   EVENTS   |

British American Tobacco invests 60 million Euro to increase factory production in Ploiesti

British American Tobacco (BAT), one of the largest cigarette manufacturers in Romania, announced on Monday that this year, the company will invest 60 million Euro in the construction of a new production hall with a total area of 4,000 square meters and in the refurbishment of the plant In Ploiesti, according to news.ro

2017-07-03 12:58:30

In November 2016, British American Tobacco announced that it would invest around 21 million Euro annually in the development of the Ploiesti plant for a five-year period. But the manufacturer has decided to triple this year′s investments as a result of the gradual closure of the German factory and the Bulgartabac takeover from Bulgaria, with part of the production to be relocated to Ploiesti.

Because of the development of the Ploiesti factory, 120 new jobs will be created by the end of the year, of which 90 were already occupied. At present, about 700 employees and 150 contractors work in the production unit in Ploiesti. Investments will also be reflected in the volumes produced, which will increase by 30 per cent.
At the same time, the number of countries to which British American Tobacco's products from Ploiesti depart will increase from 35 to 40.

"We want to continue investing in Romania and we hope that the Romanian Government will ensure the legislative and fiscal predictability and the necessary political stability," said Gemma Webb, general manager of British American Tobacco. "We underline again that one of the prerequisites for sustainable economic growth is the ongoing dialogue between authorities and business."

The British American Tobacco plant in Ploiesti is currently the second largest factory in Europe.
With the new volumes, the British American Tobacco plant in Ploiesti will become one of the world's top five BAT production units, the company said. The most important players in the tobacco industry, active in Romania, are British American Tobacco, JTI, Philip Morris International and Imperial Tobacco.



COMMENTS
There are 0 comments:

 
ADD A COMMENT
 
Name
Email
Comment
Validation Code
   
 
 

0 Comments  |  10370 Views
Daily Info
Building for the future, now

The decision to buy a house is one we probably make once or twice in our lifetime. Therefor we want this decision to be the right one. A house should last the passing of time,...

certSIGN leases 2,300 sqm in AFI Tech Park 1 office building

The Romanian IT company certSIGN has leased 2,300 sqm in AFI Tech Park 1 office building, which now reached a 60 per cent occupancy rate.

Tinmar Energy to reach 80 million RON profit in 2019, invest in household business

Tinmar Energy estimates a profit of 80 million RON for 2019, after a 73 million RON result for this year, according to Augustin Oancea, CEO of the company. He claims the turno...

Colt Technology Services to expand IQ network in Central and Eastern Europe

Colt Technology Services has today announced the expansion of its IQ Network in Central and Eastern Europe. Colt is investing in the region as a response to its rapid economic...

FAN Courier consolidates its leading position on the Romanian courier market, accelerates investment

FAN Courier is consolidating its leadership position on the local courier market for the 12th consecutive year, amid doubling of investments and market growth.

 
 
   
advertising

advertising

advertising

advertising

More on News
President Iohannis urges Romanians to be more united, stay involved in modernizing Romania

Romania's President Klaus Iohannis urged Romanians in France to be more united and stay involved as much as they are now in helping modernise Romania.

EBRD cuts economic growth forecast for Romania

Romania's economy will grow by 4.2 per cent this year and by 3.6 per cent in 2019, according to the most recent forecast released by the European Bank for Reconstruction an...

OTP Bank Romania signs investment funds distribution deal with Eurobank Fund Management Luxembourg

OTP Bank Romania signed a partnership with Eurobank Fund Management Company (Luxembourg) for the distribution of investment funds in Romania. Thus, from December 1st, OTP B...

Fondul Proprietatea expresses disappointment over Engie listing rejection

Fondul Proprietatea is disappointed with the decision taken by the majority shareholder of Engie SA, Romania Gas Holding B.V., to oppose the listing of the company, accordi...

Two billion youth risk of being left behind in the Fourth Industrial Revolution workforce, says Deloitte

Almost two billion youth worldwide risk of being left behind in the Fourth Industrial Revolution (Industry 4.0) workforce, which is changing at an increasingly rapid pace a...

ArcelorMittal receives binding offer for European assets from Liberty

British-owned Liberty announced a conditional agreement to buy four European steel plants, employing more than 12,500 people.

The Romanian labour market needs a well-thought approach, says FIC

The Foreign Investors Council (FIC) has signaled in the past 2-3 years that its members are anticipating increasing strains on the Romanian labour market because starting w...