Simtel Team (BVB: SMTL), a Romanian engineering and technology company listed on the AeRO market of the Bucharest Stock Exchange and a national leader in the field of renewable energy, announces the completion of the investment in a new logistics space, in Baicoi, Prahova County, which becomes a supply hub for all activities carried out by the group.
“The accelerated development of the company has required reconsidering everything related to the acquisition, supply, and storage flow of the materials necessary to carry out our daily activities in optimal conditions. The logistics spaces we use represent one of the most important components. Thus, to make the company’s activity more efficient, it was necessary to develop a new and modern logistics space that would meet all our requirements at the level of logistics and supply, both for the current period and in the coming years. Through the new storage facility, we will reduce transport times and delivery distances by at least 15%, compared to now, and we will also optimize the equipment storage time”, stated Mihai Tudor, CEO of Simtel Team.
Simtel’s new logistic space is built on an area of 10,000 square meters. It comprises two ultra-modern buildings, designed according to energy efficiency standards, specifically energy efficiency class A+, with a covered outdoor space and concrete platforms. The built warehouses have a total area of 1,300 square meters, and the concrete platforms have approximately 5,000 square meters. Also, one of the two buildings has been arranged to accommodate the future production line of industrial robots developed by Agora Robotics, an entity in which Simtel holds a 51% stake.
The investment in the logistics space in Baicoi was approximately 6 million lei and included the land acquisition, its development, obtaining all permits, construction of the buildings, installation of utilities, and purchasing the necessary machinery for its operation. The investment was made from the company’s own financial resources and bank financing.
The new facility developed by the Company has a positive impact on the local community by creating ten new jobs for residents in the area of the logistic space. The roles they fill are essential for managing the operational activity at the location. Furthermore, with the launch of the future industrial robot production line, the Company aims to expand the team with staff recruited from the local community.
Simtel is listed on the AeRO market of the Bucharest Stock Exchange as of July 2021 and currently has a market capitalization of approximately 310 million lei.