The money will be used to uphold the investment program of the company Wipro Infrastructure Engineering.
Wipro Infrastructure Engineering, a manufacturing company of the Indian group held by Azim Premji, bought in 2013 the Hervil factory in Ramnicu-Valcea, and subsequently invested EUR5 million in its expansion.
The value of the deal was not disclosed, but it marked the Indian group’s getting into manufacturing too on the Romanian market, considering that until that time, Wipro had been active only through the technology, IT division and outsourcing, the most impor¬tant within the group. The IT division is Wipro’s core business. Wipro Infrastructure Engineering has some 2,000 employees, of whom some 200 in Romania.
The company boosted its sales by 27% in 2017, to RON36 million, but its loss widened to RON3.7 million, according to data on mfinante.ro.
Wipro Infrastructure Engineering produces annually over one million cylinders in ten factories. In Europe, the group has factories in Sweden, Finland and Romania.