Alu Menziken, part of Swiss-based industrial group Montana Tech Components AG, borrows EUR 25 million from European Bank for Reconstruction and Development (EBRD) for the construction of a new resource-efficient plant in north-western Romania, which manufactures aluminium profiles and tubes, and complex extrusion-press products.
According to a press release, the new EUR 44 million facility in Mediesu Aurit will help the company meet ever-growing demand from its clients, predominantly in the automotive sector.
The company also received a state aid of EUR 20 million for this project.
Montana Tech Components AG and its subsidiaries are committed to training local staff, bringing the latest skills and know-how to Romania. Alu Menziken will partner with local universities and vocational schools to offer more employment and training opportunities to local engineers.
“This new investment is part of the EBRD’s efforts to drive job-generating foreign direct investment in Romania and enhance the competitiveness of companies shaping local industries and the workforce. The continuous increase in investment by Montana Tech Components AG proves that Romania is successfully building its brand as a favourable investment destination, in particular in the manufacturing sector. The EBRD is proud to be part of these efforts,” Matteo Patrone, EBRD Director, Regional Head of Romania and Bulgaria, said.
EBRD has previously financed its Maramures-based subsidiary Universal Alloy Corporation Europe (UACE), which produces aluminium parts for aircraft and supplies components to leading aircraft manufacturers such as Airbus, Boeing, Bombardier and Premium AEROTEC.