The company will focus on consolidating its position on international markets and on boosting production capacity.
It has three plants in Botosani (northern Romania) and is held by businessman Gheorghe Ciubotaru.
“Electroalfa group ended 2016 with about RON122 million revenue. The electrical equipment and metal product manufacturing divisions saw about 20% to 30% growth on the previous years. The freeze of investments in Romania’s energy sector and the modification of the public procurement law caused the revenue of the enterprise line of business (a division that integrates Electroalfa products in turnkey projects i.e.) to drop slightly compared with 2015,” Electroalfa officials say.
This year’s investment budget is EUR4 million, with part of the money to go towards boosting production capacity and possibly building a new facility.
The group ended last year with 400 employees in its three divisions and says it will hire some more in 2017.
(English version by Loredana Fratila-Cristescu)