“De’Longhi plans to make the facility a key part of its development strategy, aimed at supporting its fast-growing international presence. The facility will also enable De’ Longhi to adapt and diversify its production network so as to partly rebalance its manufacturing structure from the Far East to Europe, where De’Longhi already operates a plant in Italy,” says a joint press release.
This transaction will need to be approved by the Competition Council; the two companies expect it to be completed in the first quarter of this year.
In September 2011, Nokia announced it was ceasing production in Cluj and selling its facility.