The money will be used for the company’s current activity and to continue its investments.
Mirco Maschio, administrator of Maschio Gaspardo Romania, said the company targets growth and expects to reach 550 employees until 2020.
Maschio Gaspardo Romania ended 2016 with a turnover of RON163 million (EUR36.2 million), up 46% on the year, and a net profit of nearly RON6 million (EUR1.4 million), according to Finance Ministry data.
Worldwide, Maschio Gaspardo has some 1,800 employees working in ten large production units, of which seven factories are in Italy and the rest are located in Romania, India and China, according to company data.
Maschio Gaspardo Group had a turnover of EUR287 million in 2016. Nearly 80% of the group’s production goes to export and only 20% is sold in Italy, according to company representatives.